U.S. Central Will Honor ACH Losses

LENEXA, Kan. – U.S. Central says it will make whole any corporate or individual credit union which might have suffered a loss, or had a member suffer a loss, due to a malfunction in the processing of ACH transactions, according to Roger Dick, director of communications for the corporate credit union. Dick explained that on Friday, April 2, the Corporate inadvertently triggered a limit on the number of ACH transactions it could process in a day. The limit, which was contained in the software used by the corporate’s vender ACI, shut the processing down and resulted in a corrupted data file. Complicating the situation still further, an employee error meant that there was no good data backup file of Friday’s business, Dick explained, guaranteeing that the problem rolled in Monday. Automatic Clearing House transactions clear checks and drafts on checking accounts from around the country. Dick said that the corporate had taken steps to make sure that the ACH processing limit “will not be a factor” in the future and that the credit union had begun to review its back up procedures.