ProDraft Services, Inc.

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ProDraft Services has partnered with Fifth Third Bank to provide credit unions the best possible correspondent service solutions. With the expertise of ProDraft in draft/check image processing, and the experience and knowledge of Fifth Third Bank’s correspondent banking services, our main focus is on delivering a comprehensive package of valuable services. We are all committed to making this joint effort a success, while providing affordable solutions for all your financial needs, all without a commitment of capital.

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Overview

With recent NCUA actions affecting several major providers of correspondent banking services and others facing economic challenges, credit unions are in need of a stable, viable alternative source of comprehensive correspondent services that does not require capital investment. With ProDraft Services, credit unions have a full range of correspondent services available, from a single source.

Solutions

Share Draft Processing Services

Complete suite of in-clearing services for share drafts
Image archiving and custom posting files sent to your core
Home-banking image interface and web image access
Electronic cash letter deposit item processing services
Foreign deposit item presentment

Treasury Services

Fed settlement accounts
Web based account and services access
ACH and wire transfer services
Access to a nationwide cash vault network

Investment Management Services

Overnight sweeps
Fed funds investments
Custody and safekeeping services
Portfolio management services

Securities

Municipal and corporate bonds
Variable rate demand notes
Treasury bills, notes and bonds
Certificates of deposit
Investment portfolio accounting
Portfolio and balance sheet analytics

International Services

Foreign exchange
International treasury management
Foreign currency
International letters of credit
US dollar international wire transfers

Lending

Fed funds lines of credit
Operating lines of credit
Interest rate hedging products
Foreign currency risk hedging products

NAFCU Member-only Benefits

A provider of Correspondent Banking and Item Processing Solutions for credit unions, all without a commitment of capital, ProDraft is a CUSO owned by more than 30 credit unions and has been dedicated to delivering services to credit unions for over 25 years … a true credit union organization run by dedicated credit union people.

NAFCU members receive free conversion to any ProDraft services.

Company

ProDraft Services has been in business since 1985. We provide credit unions with exceptional processing solutions. ProDraft was purchased by Midwest Corporate Federal Credit Union in 2007, and then formed into a CUSO in 2009 between 38 credit unions in North Dakota. Now with an established business relationship with Fifth Third Bank, we offer credit unions traditional correspondent solutions. Joining all these solutions together, we offer credit unions the best solutions, tools, price and financial stability without the requirement of capital investment.

News

ProDraft Services 'Doing OK' as Corporates Alternative (January 3, 2012)
He had hoped for more business – but a year into the life of Bismarck, N.D., CUSO ProDraft Services vice president Doug Wolf told Credit Union Times in an interview, “we are doing OK.” Created to provide a range of correspondent services traditionally provided by corporate credit unions, ProDraft does not require its users to put up capital and therein, said Wolf, lies the appeal.
NAFCU Services Chooses ProDraft Services for Correspondent Banking Services (August 11, 2011)
WASHINGTON – NAFCU Services Corporation today announced the addition of ProDraft Services, Inc. to its Preferred Partner Program for correspondent banking services for credit unions. A CUSO headquartered in North Dakota, ProDraft Services provides a comprehensive suite of correspondent banking services from a single source.