Merchant Services in Utah

You have some great business banking options with American United FCU to manage your cash.

  • ACH Payments
  • Business Online & Mobile Banking
  • Merchant Services
  • Mobile Check Deposit
  • Payroll Solutions
  • E-Commerce Solutions
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Whether you’re starting a new enterprise or growing your existing business, American United Federal Credit Union provides the cash management services you need to thrive. Since our first branch opened in 1952, we have grown to serve more than 25,000 members from 10 convenient locations in Utah and California. Explore options that include e-commerce, payroll, mobile check depositing, merchant services, mobile business banking, and ACH payments.


What is Cash Management?


Cash management services can help maintain the liquidity your business needs for smooth operation at an affordable cost. We provide the tools you need to administer your company’s incoming and outgoing transactions without a hitch, which enhances the stability of your business and improves your ability to access capital for further growth. These systems integrate with your business banking software to execute the three main goals of cash management: maximizing profits, settling debt and other obligations promptly, and earning interest on idle funds.


Larger corporations may refer to cash management as treasury management, a department that usually includes chief financial officers, treasurers, accountants, and other business managers. Smaller companies often completely outsource their cash management solutions.


Cash management also involves tracking metrics associated with your business. Reviewing cash flow reports each week, month, quarter, and year will help keep your company on track to meet both small and large financial milestones. These documents include a thorough accounting of cash that goes into and out of your business, including accounts receivable, accounts payable, financing payments, and invested funds. On the last line, you can see how much cash your business has available at a glance.


Why is Cash Management Important to My Business?


When your business has a stable, sustainable cash management system in place, you have the foundation for long-term survival and financial growth. Maximizing the amount of cash available to pay your business debts also allows you to unlock the profit potential of your enterprise. With this process in place, you’ll be able to see your available cash at a glance for enhanced accessibility to and control of the funds that flow in and out of your business. With American United Federal Credit Union, we can connect you with cash flow solutions that make sense for your operation.


What is ACH?


In the United States, an organization called the National Automated Clearing House Association facilitates electronic funds transfers and transactions through its Automated Clearing House systems. When your business creates this type of transaction, you are the ACH originator. Your customer provides the authorization to charge the credit or debit card for payment. Typically, ACH processes and completes these transactions within a day of initiation. Once this occurs, the bank will have the authorization to transfer the purchase price from the customer’s account to your client’s account. If you have employees you pay with a direct deposit system, each paycheck also represents an ACH transaction.


How Can I Best Manage Business Cash-Flow?


Smart cash-flow management can help your business succeed, as well as weather challenging financial times. Start with these steps to get your company’s finances under control:


Spend Carefully


The higher your costs, the more money that flows out of your business. Think carefully about whether a new expenditure will support the company’s financial health before taking the leap. It might make more sense to allow the funds you would have spent to earn interest for a rainy day.


Use Credit Wisely


This tip applies to both business borrowing and allowing your customers to use credit for purchases. Before taking on a new loan for inventory or equipment, make sure the payments and interest will work with your worst-case-scenario budget. If your company extends credit to customers, have a clear approval process in place to avoid losing money when clients default on the loan.


Minimize Inventory


Generally, you should only have enough stock on hand so you can serve your current customers. Avoid the temptation to take advantage of economies of scale. Though you might get a discount for buying materials and inventory items in larger quantities, you won’t save on the deal if you don’t end up selling or using what you purchase.


Have an Emergency Fund


As with your personal budget, your business budget should have a cash reserve to cover about three to six months of expenses. These funds will help ensure you can pay for the basics such as inventory and payroll even if business slows for a time.


Track Invoices Carefully


Many small businesses struggle to collect from clients who fail to pay. Getting over this hurdle can positively impact your cash flow. Develop a tracking system to record each invoice and determine whether you have received payment. Set up reminders, automated if possible, to remind customers to send their payments. You may want to institute a late-fee or interest system when payment lags.


From cash management to business checking, savings, and credit lines, American United Federal Credit Union provides comprehensive banking and cash flow services for your company. To qualify for membership, you must simply reside, go to school, own a business, work, or worship in Tooele or Salt Lake County, Utah. Family members of our members are also welcome. Contact us today to learn more about our business banking and cash management solutions.