The Federal Reserve Banks exhibited at the Credit Union National Association (CUNA) Governmental Affairs Conference (GAC) (Off-site) held in Washington, D.C. February 25 through March 1. The theme, “Powerful Cause. Positive Effect.” resonated throughout the event during keynote addresses and breakout sessions.
Fed services that we highlighted
Customers who visited the Fed’s booth were able to speak with account executives about a range of featured services, including FedLine Advantage®, PDF returns (PDF), the FedACH® product suite and FedComplete® Packages. With these services, customers can benefit from timelier final payments, more efficient reporting and better risk monitoring of Automated Clearing House (ACH) payments. Our value-added services also provide sound options to help mitigate risk, potentially lower costs, streamline operations and more efficiently gather statistics and monitor fraud.
One topic that came up more than once was the benefits associated with processing ACH files directly with the Fed instead of through a third party. A direct connection with the Fed provides you with methods of tracking and reporting ACH activities, as well as supporting documentation for NACHA audits.
Conversations with our customers
At CUNA GAC, our account executives heard numerous comments about the reliability of the Fed’s products and services, our helpful support staff and the benefits of converting to FedLine® Solutions. Here are some excerpts that our account executives heard from customers:
- The FedPayments® Reporter Service provides a variety of reports that offers us flexible options that really save time and effort.
- Once we got set up with FedLine® Solutions, we experienced the ease of downloading our daily return PDF files and accessing our accounting reports through Account Management Information.
- The time it took to get set up on FedLine Advantage was far less than I expected.
Tips shared by our account executives
When it comes to the Fed’s products and services, our account executives have an in-depth understanding of how they work and how they can benefit your organization. Check out these tips that our account executives are happy to share:
- The FedComplete Packages can be used to streamline and simplify processing and accounting, which can really save your organization time.
- You may not know that the FedTransaction Analyzer® tool can really help you in a variety of ways by supplying you with a quick, easily generated report of your wire activity.
- Our newly-redesigned FRBservices.orgSM website and our twice-monthly Fed360 publication are great resources to help you keep up with payment issues.
- I encourage my customers to rely on FRBservices.org for detailed information about all Fed services, fees, contact information and training options.
Account executives in attendance
Depending on where the conference is located, a number of account executives attend to spend time with their regional customers. At CUNA GAC, John Pitts, Brenda Simpson, Bobby Pinson and Susan Bivens (shown below left to right) manned the booth and scheduled customer meetings throughout the event. Bivens stated, “I really value the time I get to spend face-to-face with my customers at conferences. It’s a great way to meet with them and catch up from year to year.” Pinson added, “Conferences are an important way for me to spend time with my customers.”
Action Item:Look for future Conference Connection articles in Fed360, and check out the Industry Events page for upcoming events that our Fed account executives will be attending.
The Federal Reserve Banks do not sponsor or endorse any of the non-Federal Reserve Bank-related products, parties or entities discussed in this publication.