Capital Farm Credit New Processing System
Capital Farm Credit is implementing a new internal lending software system that will enhance our operations to better support our members. While we connect the new system, payment processes will be affected for June 15-22, 2022.
While the impacts to customers are minimal, this new system comes with a few changes, you as a member, will need to be aware of surrounding cash management and payment processes.
Ag Banking Online (ABOL)
Same day ACH will now be available to ABOL customers. Any transaction that qualifies for same day ACH will be processed and posted the same day. Currently if a transaction is submitted through Ag Banking Online by 12:00 pm and is $1,000,000 or less, it qualifies for same day ACH.
Auto Draft System (PAID)
Beginning with July billing, all customers will now have their payment processed on the 1st of the month. Please ensure that funds are in place for timely processing.
Customers will no longer be able to process extra principal payments through
the PAID system. Please give your local credit office a call and they can assist you in an alternative method.
FastCa$h
Same day ACH will now be available for FastCash customers. Any transaction that qualifies for same day ACH will be processed and posted the same day. Currently if a transaction is created by noon and is $1,000,000 or less, it qualifies for same day ACH.
System Installation Weekend | June 17-22, 2022
During the weekend of Friday, June 17, through Wednesday, June 22, cash management processes will be affected by system installation processes. Rest assured this does not impact your loan account but may cause delays in processing payments while software transfers take place.
Below is information you may need to be aware of regarding payment processing options and how to plan accordingly for June 17-22.
Ag Banking Online (ABOL)
ABOL payment processing will be down end of day, Tuesday, June 14 at 2:45pm and will be back online Wednesday June 22. Recurring transactions scheduled for Wednesday, June 15 through Tuesday, June 21, will be processed Wednesday, June 22 automatically. No action is required on behalf of the customer.
Auto Draft System (PAID)
Our auto draft system (PAID) will not be affected during new system installation. Auto draft payments are scheduled to draft the first day of the month. Due to this timeframe, PAID will not be affected.
FastCa$h
All FastCash transactions must be submitted to your local office by 2:00pm on Thursday, June 16 for processing prior to impacts of installation weekend. FastCash processes will be down Friday, June 17 through Tuesday, June 21. If a disbursement is needed on Friday, June 17, funds may be distributed via wire. Please contact your local office for assistance.