“Your payment should clear in a few days.” At some point in the not-so-far future, that phrase is likely to be just as obsolete as the screeching sound of dial-up internet is today.

With last month’s launch of FedNow – the Federal Reserve’s instant payments rail – payment transfers that become available for use by the receiving party within seconds are being pushed further into the mainstream, and credit unions are beginning to view adoption of the service as an imperative. Six credit unions and seven corporate credit unions were among the 57 early adopters of the FedNow Service; in addition, service providers that have begun processing FedNow instant payments for participants include a number of vendors familiar to the credit union movement, such as Fiserv, FIS, ACI Worldwide Corp., Alacriti, Jack Henry and Juniper Payments, a PSCU Company.


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Natasha Chilingerian

Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.

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