Volunteer Corporate Credit Union
Nashville, Tennessee - Photo Courtesy of Barry Shulam
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Music City, U.S.A.
 Correspondent Services

Overview: As a wholesale provider of services, VolCorp is a trusted source of low-cost, efficient payment services for credit unions and acts as a consolidator of transactions to provide economies of scale to its members. VolCorp takes the hassle out of correspondent services by managing the relationship with wholesale providers such as the Federal Reserve Bank (FRB) and the National Automated Clearing House Association (NACHA), ensuring your credit union’s funds are kept in an interest bearing account for as long as possible. Settlement of your credit union’s vendor payments, member transactions, savings bonds, and reserve requirements can all be automated through VolCorp.

Benefits of choosing VolCorp for your Correspondent Service Needs:
  • Free automated settlement
  • No need to maintain account relationships with numerous third-party providers
  • Avoid the hassle of dealing with the FRB
  • Guidance from knowledgeable staff


Federal Reserve Check Collection
Making your daily deposits directly with the FRB and settling the collected balances through VolCorp is another alternative to depositing with a commercial bank. By using the FRB for processing and VolCorp for settlement, you’re minimizing the cost and maximizing the earnings associated with your daily deposits.


Federal Reserve Coin and Currency
VolCorp can act as a settlement agent and correspondent between our credit unions and the FRB. You can order and settle cash deliveries for your main office, branches, and ATMs with a single phone call to VolCorp. Our Coin and Currency service is a safe and convenient alternative to a commercial bank.


Cash Vault Program
Greater flexibility and lower delivery costs are the perks to joining VolCorp’s cash vault program. VolCorp has partnered with Loomis to offer you, our member credit unions, expertise in cash handling, delivery, and a simple alternative for your cash ordering needs. The program provides you with the ability to buy and sell coin and currency at the box/strap amounts. So, if your cash needs range from $100 or $10,000,000, VolCorp can fill your order. Coins can be purchased at box level and shipped back loose in any quantity. Member credit unions also have the option to order cash multiple days per week with next day and same day delivery available for a nominal fee. Last but not least, VolCorp has negotiated with Loomis to offer the lowest rates possible for the armored car delivery of your cash, with no additional surcharges. The cash delivery service charges are included on one bill, the VolCorp invoice you already receive.

VolCorp's Cash Vault program is available for all member credit unions in Tennessee and some locations in Kentucky, West Virginia, Virginia, Mississippi, and northern Georgia.


Savings Bond Issuing and Redemption
Become an Issuing and/or Redeeming agent of Savings Bonds and settle these transactions through your VolCorp Transaction Account. Not only can we handle the settlement of these transactions, we can assist you in getting your credit union authorized as a savings bond agent. Your credit union may deposit savings bonds with VolCorp by sending these images commingled with your other deposit items via branch capture.


Treasury, Tax and Loan Depository
Receive tax payments for payroll and commercial taxes and settle these transactions through your VolCorp Transaction Account.


Reserve Requirement Settlement
If you are required to reserve under Federal Regulation D, let VolCorp simplify this complicated process by reporting and settling your reserve requirements on your behalf. This eliminates the need to open an account with the FRB.


For more information about our Correspondent services, contact Marketing at Extension 3 or email marketing@volcorp.org.

Your savings federally insured to at least $250,000
and backed by the full faith and credit of the United
States Government. National Credit Union Administration,
a U.S. Government Agency.

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