Online Payment of Housing Charges
You can provide your members with the convenience of paying their housing charges online, if they bank with a credit union. Once you’re set up, the member goes into their account online, and adds the co-op as a “payee” by choosing the co-op’s name from a drop down list. They can choose to have a regular payment made from their account automatically, or they can make a one-time payment at any time.
To get your co-op listed as a “payee” or “biller”, there’s a two-page Biller Enrolment Request form to complete, which a signing officer signs. There is also a six-page Electronic Payment Consolidation and Settlement Agreement that two signing officers sign. You’ll find them at: billers.central1.com/forms/.
When a member makes a payment, Central 1 Credit Union notifies you of the transaction, including the member’s name, amount paid and date/time payment was made. If you have your faxes sent to you by email, notification by fax is convenient and confidential, or you can apply to access bill payment reports in a secure online archive.