The $451 million Community Choice Credit Union of Farmington Hills, Mich., said it plans to use a small business online bill pay platform to help it meet its commitment to serving those business relationships.
The 50,000-member Community Choice CU will be using the Biz 2.0 service from iPay Technologies, a division of Jack Henry & Associates of Monett, Mo.
Biz 2.0 offers payment capabilities beyond consumer solutions, including customizable user entitlements, accounts payable and receivable, electronic invoicing, custom audit reports, and person-to-person payments, accessed through a single sign-on solution integrated with online banking platforms, the company said.
Dan Munro, senior vice president for Community Choice Credit Union, said, “Last year, the credit union identified our commitment to small business relationships as a key value proposition for banking with us. We wanted to fortify our product offering along with that commitment to ensure our goals were met for business growth and member service.”
iPay’s turnkey electronic payments platform is now in use at more than 3,700 banks and credit unions, including more than half of the nation’s credit unions and approximately 40% of the nation’s community banks that offer bill payment services, the company said.