NET Credit Union Expands Instant Payments via Alacriti’s FedNow and RTP Integration

Quick Summary

NET Credit Union has expanded its partnership with Alacriti to launch instant payments capabilities via the RTP network and FedNow Service. By leveraging the Orbipay Payments Hub, the credit union now offers members real-time money movement, building upon its existing digital loan payment infrastructure to enhance the member experience.

How does NET Credit Union enable instant payments for members?

NET Credit Union facilitates instant payments capabilities by integrating Alacriti’s Orbipay Payments Hub, which connects directly to both the RTP network and the FedNow Service. This unified infrastructure allows members to send and receive funds in seconds, moving beyond traditional batch processing to meet modern consumer expectations for real-time money movement.

• Dual-rail access to both FedNow and RTP for maximum reach.
• Seamless integration with existing Orbipay Loan Payments systems.
• Real-time Send and Receive functionality for immediate liquidity.

What are the benefits of progressive payments modernization?

The progressive payments modernization approach allows financial institutions to introduce new capabilities without the risk of a "rip and replace" strategy. By building on the trusted technology foundation established during their 2024 loan payments initiative, NET Credit Union achieved a smooth rollout with zero operational disruption. This strategy ensures that scalable modernization remains cost-effective while providing a framework for future innovations like Request for Payment (RfP).

"Our goal is to make every interaction as simple and frictionless as possible for our members. Whether they're making a loan payment or moving money through instant payments, we want the experience to be fast, intuitive, and completed in seconds," said Marc Michalowski, CIO, NET Credit Union. “We've already seen adoption continue to grow, which reinforces that members value the speed and convenience these capabilities provide. Alacriti helped us expand those experiences while building on our existing foundation."

How does this partnership impact credit union operations?

By utilizing a unified payments infrastructure, NET Credit Union reduces the operational burden typically associated with managing multiple payment silos. The automation of real-time payment processing decreases manual servicing requirements for staff and provides improved payment visibility across the organization. This efficiency allows the credit union to reinvest resources into member services rather than back-office maintenance.

"NET Credit Union's continued payments evolution is a perfect example of progressive payments modernization," said Mark Majeske, Senior Vice President of Faster Payments at Alacriti. "By building on the success of its loan payments initiative, NET Credit Union was able to quickly expand into instant payments using the same trusted technology foundation. This approach allows institutions to deliver new payment solutions faster, simplify operations, and create a scalable framework for future innovation.”

FF NEWS TAKE:

This move by NET Credit Union and Alacriti definitely moves the needle for the mid-tier banking sector. By proving that instant payments capabilities can be layered onto existing loan payment tech, they provide a blueprint for other credit unions to adopt FedNow and RTP without massive capital expenditure. It’s a pragmatic, high-impact strategy that prioritizes real-time money movement for members while maintaining operational stability.