ACH Direct Selected to Provide Electronic Payments Technology for BUCS Federal Bank.CATHEDRAL CITY, Calif. -- ACH Direct, a leading provider of cash management technologies and services, today announced that it has been selected by BUCS Federal Bank to provide Automated Clearing House See ACH. (ACH) and check verification services. "We are excited to have another financial institution choose ACH Direct as its private label payment processor," said Scott Lewis Scott Edwin Lewis (born September 26, 1983 in Washington Court House, Ohio) is an American baseball player on the 40-man roster of the Cleveland Indians. Since being drafted by the organization in 2004, Lewis has played Minor League Baseball as a member of the Mahoning Valley , Executive Vice President of Sales at ACH Direct. "BUCS Federal Bank recognized the need to provide its corporate clients with best-of-breed technologies to assist them in processing ACH and credit card payments, along with check verification and customer ID authentication." Herbert J. Moltzan, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BUCS Federal Bank, added, "Current and potential business customers need not be concerned that working with a small community bank like BUCS means they must settle for a limited product/service line that ultimately proves inadequate for their business needs. This fast, straightforward desktop tool is just one example of BUCS Federal Bank's ability to deliver the best business banking options available today." BUCS Federal Bank's new applications utilize ACH Direct's payment processing tools, featuring the industry-leading Virtual Terminal. With its easy-to-use, yet powerful user interface, Virtual Terminal enables merchants to schedule a single transaction or a series of recurring transactions with a few simple keystrokes. Virtual Terminal supports the processing of credit card, debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. and electronic check transactions. These transactions can be processed in real-time or can be scheduled to occur at a future date designated by the user. "BUCS Federal Bank has taken an important step forward by selecting cutting edge technology which maximizes the strengths of ACH," said Jeff Thorness, ACH Direct's President and CEO. "In today's competitive marketplace, financial institutions must offer innovative products that support the evolving business needs of their customers. ACH Direct is committed to developing value-added solutions that create significant advantages for both our clients and their customers." By using electronic payment methods, consumers and companies alike enjoy increased reliability, security, convenience and confidentiality. Companies replacing cumbersome paper-based payment methods with ACH reduce costs and improve efficiency. Escalating awareness of the benefits of ACH continues to fuel widespread demand: The ACH Network grew by 17.4 percent in the 3rd Quarter 2005, with more than 2.71 billion transactions conducted, worth more than $6.1 trillion, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. NACHA NACHA National Automated Clearing House Association NACHA National Agency Clearing House Association . About ACH Direct ACH Direct is one of the largest privately held electronic funds transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. processors in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , with over $3 billion in transactions processed in 2004. ACH Direct's customers benefit from a comprehensive suite of payments products and services, including ACH origination, check verification, identity verification, credit card and debit card processing. Dedicated to providing superior customer service and industry-leading technology, ACH Direct provides tools to help organizations of all sizes reduce transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). , mitigate risk and increase efficiencies. Additional information about ACH Direct can be found at www.achdirect.com About BUCS Federal Bank BUCS Federal Bank (www.bucsfederal.com) was founded in 1970, and with current assets Current Assets Appearing on a company's balance sheet, it represents cash, accounts receivable, inventory, marketable securities, prepaid expenses, and other assets that can be converted to cash within one year. of $133 million, serves Baltimore and Howard Counties, MD with four community offices in Owings Mills and Columbia. In 2005, BUCS Federal Bank celebrated both its 35th anniversary and the 20th anniversary of President & CEO Herbert J. Moltzan. In 2005, BUCS also won a Better Business Bureau of Greater Maryland Torch Award for Ethics and Integrity, plus a Society for Human Resource Management  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Maryland Employer of Distinction Award. BUCS consistently earns a five-star designation (the highest possible) from Bauer Financial (www.bankstars.com), an independent safety and soundness rating firm. |
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