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Catholic Federal Credit Union Financial Fitness Blog


Posted by Tiffany Watkins, VP Risk Management & Compliance on Aug 28, 2017 3:01:39 PM

Same-Day ACH Payments - Effective September 15, 2017

You may have already noticed that ACH credits post to your account at different times during the day - this was Phase 1 of Same Day ACH Rule implemented by the National Automated Clearing House Association (NACHA). Phase 2 will go into effect on Friday, September 15, 2017, allowing ACH debits to clear your account at different times during the day.

What is ACH?

ACH stands for Automated Clearing House Association, which in summary means the electronic transaction that moves between financial institutions and post to accounts in the forms of deposits and withdrawals.

What are same-day ACH debit entries? 

Payments, purchases, or charges (electronic withdrawals from your account) by merchants or vendors, may post on the same day as originated.  (Includes online or payments by phone for utilities, mortgage, etc., or checks that are converted to electronic payments.)

What does this mean for my account at CFCU?

In some cases, debit transactions (payments that are withdrawn from your account electronically) may be initiated (originated) and posted to your savings or checking account on the same day.

Tips to be Prepared:

  • Check your available balance. With the upcoming changes, you should not authorize a payment until the funds are available in your account. 
  • Review your automatic or recurring payments – make changes as you deem necessary to ensure funds are available in your account on the date you have authorized the payment.
  • Contact the merchant or service provider to adjust the date of the withdrawal to help avoid possible overdraft fees.
  • Ask questions at Catholic Federal Credit Union. We are here to help. Simply ask, "Do I have ACH withdrawals on my account?" We can also help you set up Online & Mobile Banking, so you can have access to your account balance at any hour of the day.



Topics: ACH, payments, electronic payments


We're happy you're here. Our blog gives us another way to communicate with you in a fun, relaxed way. Don't worry; we won't be selling you anything. We just want to share a more personal part of ourselves so you can get to know the lighter side of the credit union. Our goal is to improve your financial well-being, we'll also share helpful financial tips and recommendations covering everything from students loans to retirement planning, and dream vacations to budgeting, many from our own personal experiences. After all, we're still people helping people, as we have been for 60 plus years. Now we just have more ways to reach out and help. 

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