As of Sept. 18, credit unions must comply with new international ACH transaction regulations that require every originator and recipient to properly code the transaction, and check addenda records against the Office of Foreign Assets Control.Corporate credit unions have been busily preparing and educating members. The $1.5 billion Volunteer Corporate Credit Union provided several pages of information on its Web site (www.volcorp.org) and has produced several training sessions because credit unions won't be allowed to opt out of having to handle IATs.Michelle Palmer, VolCorp vice president of business development and consulting, is one of fewer than 300 certified accredited ACH professionals in the U.S. The AAP certification is given by NACHA, which oversees the ACH network, including developing rules and regulations.Palmer said credit unions can reduce their IAT volume by choosing to not originate the transaction. However, they must accept incoming IATs and follow the new regs. Just because a credit union has no international branches or members who live overseas doesn't mean they won't have to process IATs, she said."For example, if a member uses their credit union debit card to purchase something on eBay from a merchant overseas, that could possibility come in as an IAT," she said.Not only must credit unions check all parties in addenda records against OFAC, incoming funds can't be deposited into a member's account until the check is complete. Palmer said credit unions can request to receive two separate files from the Federal Reserve, one with domestic ACH transactions and the other with international, so they can post domestic entries first, then work their way through exceptions.On the bright side, NACHA relaxed funds availability regulations, scrapping previous rules that required posting to member accounts by 9 a.m. or business opening. Now, financial institutions are allowed to delay IAT posting due to the extra time required to check addenda records against OFAC.The $8.9 billion Members United Corporate Federal Credit Union also produced several educational sessions for members on the topic of IAT. The Warrenville, Ill.-based corporate has been eliminating expenses this year as it manages large investment losses. However, Members United did find the ways and means to educate members on the topic, scheduling 14 Webinars during the month of September alone."We believe that keeping our members informed and educated is an important part of the value of membership," said Victor A. Vrigian Jr., vice president of marketing. "Our members view us as a resource to help them in this regard. And in our future planning, providing education remains an essential role in our continuing commitment to serve our members."–[email protected]