Capital Credit Union provides tailored treasury management solutions for both small business owners and large-scale corporations. Our services are designed to simplify payment processes so you can focus on running your business. Below is an overview of a few of the financial tools we offer and how they can make your business transactions more convenient and secure.
Fraud Protection
In the digital age, you can never be too careful. Scammers have developed sophisticated ways to target account information and exploit digital banking systems to gain access to tools like ACH transfers. These actions can disrupt business transactions and pose risks to both you and your customers.For example, check-washing scams are becoming increasingly common. This type of scam often involves a person washing the payee’s name from the check, changing the dollar amount, and then fraudulently depositing the check for their own benefit.
According to the United States Postal Service, postal inspectors recover more than $1 billion in fraudulent checks and money orders each year. But there are ways to protect your business. Minimize your risk of financial loss through fraud mitigation services.
To prevent check fraud, for instance, consider Check Positive Pay. Through this service, a business provides its financial institution with information about the checks it has issued, including each check number, dollar amount, and account number. The financial institution then compares any checks presented against the information provided to ensure it all matches up. This helps prevent fraudulent checks from being cashed. Payee Check Positive Pay takes this protection a step further to prevent check washing. Through this service, the payee’s name is verified against a list provided by the account holder.
ACH Positive Pay helps businesses monitor electronic payments. This feature enhances your financial oversight of all ACH transactions by setting up certain parameters. These filters could include dollar amounts, expiration dates, and other details. Anything that falls outside of the restrictions you’ve set will be flagged for your review. You can then either approve or decline the transaction.
Check Positive Pay and ACH Positive Pay put you in better control of your business’s finances. These services not only reduce your risk of being defrauded, but they also give you peace of mind and help your business run more efficiently.
Liquidity Management
Liquidity management is all about making sure your funds are working efficiently for your business. With tools like sweeps, you can ensure that after all transactions are processed at the end of the day, your money is automatically moved into your designated account. This helps you keep cash accessible for daily operational needs while securing unused funds in the right places to optimize your financial strategy. Proper liquidity management ensures your business stays prepared, agile, and composed.Business Credit Cards
If you’ve ever had a personal credit card, you know how convenient they are for online and in-person purchases. In fact, so much is cashless these days that a credit card is almost a necessity. Plus, some even allow you to build up points and rewards. Business credit cards do the same for your company. Capital Credit Union offers a suite of credit cards to meet your business needs, from reward-based cards to corporate and procurement cards, also known as P-cards or purchase or commercial cards.With P-cards, employees can make business purchases without going through a lengthy expense approval process. Employers can protect their interests by setting spending limits or other restrictions. P-cards are a convenient way to track employee spending with minimal effort.
They may also improve employee satisfaction. Instead of employees having to spend their own money and wait for reimbursement, business cards give your employees their own purchasing power. They have the freedom to buy what they need when they need it.
Find the credit card that suits your business best. Whether a P-card, corporate card, or rewards card, you can choose the solution that’s most beneficial for your company or organization.
Merchant Services
Our treasury management services also include merchant services, which allow you to accept multiple payment forms. The convenience of accepting more payment methods, including credit, debit, or gift cards, enhances customer satisfaction and increases sales. While there are many reasons customers abandon their online shopping carts, data shows that not enough payment methods could be one reason customers aren’t completing their purchases. According to Statista, more than 10 percent of US consumers abandon their orders during the checkout process due to a lack of payment options.Other Benefits
Treasury management services also include remote deposit capture (RDC) and ACH Origination, and payment gateways. RDC allows you to deposit checks without visiting a physical branch, giving you almost instant access to your funds. ACH Origination enables you to securely transfer funds, which means you can send and receive money quickly and conveniently. Payment gateways encrypt and protect sensitive customer information. Just as we protect your business interests, we look out for your customers too.
Capital Credit Union wants to see business owners like you succeed. That’s why we make business transactions simple, secure, and easy. Find out more about our treasury management services or experience them yourself. Contact our treasury management team to discuss your banking needs.
Our team has decades of experience providing solutions to local businesses like yours, so you’ll always be in good hands. Fill out your business information and service of interest, and one of our helpful team members will be in touch with you soon. In addition to the services we’ve described, our team can also assist with business wires, digital banking, business analyzed checking, and more.
As Denee Mott, Vice President of Treasury Management at CCU, puts it, “Treasury Management Services at Capital Credit Union helps businesses take control of their cash—making it easier to collect payments, pay bills, manage cash flow, and protect against fraud. It’s like having a financial operations partner that works behind the scenes so you can focus on growing your business.”
Running your own business is demanding, but it is also incredibly rewarding. Let’s work together to create efficiencies. It’s what we do best so your business can perform at its best.