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Catalyst Corporate has announced a lockbox service for natural person credit unions that aims to provide them with a secure and affordable method for processing a range of payments, said Karen Coble, a Catalyst vice president.

 The core aim is to free credit unions from the time-consuming process of handling loan payments.  “Our intention is to add back office efficiencies to our credit union members,” said Coble in an interview.  She added that Plano, Texas-based Catalyst expected to sign up perhaps 25% of its members for this service – “It could go higher,” said Coble, who indicated fees would be based on volume.

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