The Frederick Community Bank (TFCB) has the ACH (Automatic Clearing House) Services available for businesses, non-profits, churches, local governments/municipalities, and other types of organizations.

The ACH network is a very reliable nationwide electronic funds transfer system governed by the operating rules of the National Automated Clearing House Association (NACHA). NACHA operating rules provide the guidelines for the clearing of electronic payments between participating depository financial institutions. The Federal Reserve serves as our central clearing facility through which financial institutions transmit or receive ACH entries.

Our Internet Banking Platform has the tools your organization needs to create or upload ACH files to the bank. The application and review process is a smooth one at TFCB.

If your organization is interested to learn more about and what is entailed in signing up for ACH Services, please give us a call at the bank (217) 379-2336.  We would be more than happy to discuss with you all that we have to offer and answer your questions!

Here are the following ACH Services that organizations can utilize:

Payroll Services (Direct Deposit)

The Frederick Community Bank Payroll Services allow small to large organizations to electronically pay their employees using what is commonly called Direct Deposit.  Direct Deposit utilizes ACH files that are uploaded to TFCB via our Internet Banking Platform.  Organizations often find that Direct Deposit is often less expensive then the old school approach of buying check stock, MICR laser toner, envelopes, postage, and employee time to generate payroll checks.  Give us a call and we can help you evaluate if Direct Deposit is right for you and your organization.

Cash Management & Cash Collection

Cash Management serves a similar function as Direct Deposit, but allows organizations to send larger payments to their vendors utilizing a NACHA formatted ACH file.

Cash Collection allows organization to collect fees from their customers through ACH files submitted to the bank.  Examples would be:

  • Church giving and tithing
  • Regularly reoccurring (weekly, monthly, or annually) Tuition & Fees for schools, daycares, nursery schools, and universities,
  • Subscription Fees for business services and goods.
  • Membership fees for businesses

Cash Management and Cash Collection will require your organization to collect affirmative consent from those that you would want to debit or credit their checking or savings accounts.

We are currently offering ACH services to customers of TFCB with an established relationship (This is a banking regulatory requirement known commonly as “Know Your Customer” or KYC.  We would be more than happy to answer any of your questions!  Give us a call today!