UMassFive College Federal Credit Union of Hadley, Mass., has become the first credit union customer of ACH Federal's pay-by-phone services, the company said.
The phone payment option is expected to help the $311 million, 25,000-member credit union improve its collections process while also providing members immediate payment options for all types of loans, the company and credit union said.
UMassFive College FCU serves employees, students and family members of the University of Massachusetts and the Five College systems as well as several smaller local educational and service organizations.
ACH Federal is based in Chattanooga, Tenn., and was formed in 2007 by three accredited ACH professionals, the company said. It provides Web-based and pay-by-phone real-time processing services to financial institutions and other businesses.