Wire Transfers

Please include the following information to receive an incoming domestic wire:

• INSTRUCTED AGENT (Receiving Institution)
  Alloya Corporate Federal Credit Union
  184 Shuman Blvd Suite 400
  Naperville, IL 60563
  RECEIVER ABA: 271-987-635
• CREDITOR AGENT (Beneficiary Financial Institution)
  American United FCU
  2687 West 7800 South
  West Jordan, UT 84088
  1-877-992-8663
  BENEFICIARY ACCOUNT NUMBER / ABA: 324-078-640
• CREDITOR (Beneficiary)
  Member Full Name
  Member Complete Street Address
  Member Account Number*

*Your account number is the same as the member account number. For a specific loan or account, please add a (colon): and then the loan or account number (e.g. xxxxxx:9)

NOTE: For International Wires, the bank overseas needs to first send the wire to a Financial Institution in the United States to which they correspond. This is known as the Intermediary Agent. Once that bank in the United States receives the wire, they can then use the instructions shown above.

Please include the following information to send an outgoing domestic wire:

• BANK OR TRANSFER AGENCY
  Bank or Transfer Agency Name
  Street Address
  City, State, & ZIP Code
  Receiver ABA#/Routing #:
  
• BENEFICIARY FINANCIAL INSTITUTION
  Financial Institutions Name
  Address
  Phone Number
  Beneficiary Financial Institution ABA/Routing #:
  
• BENEFICIARY
  Beneficiary Name
  Beneficiary Account #
  Specific Loan or Account # (only if needed)

Required information to SEND an international wire:

BANK OR TRANSFER AGENCY

• Bank or Transfer Agency Name
• Street Address
• City, State, & Zip Code
• Receiver ABA#/Routing #:

BENEFICIARY FINANCIAL INSTITUTION

• Financial Institutions Name
• Address
• Phone Number
• Beneficiary Financial Institution ABA/Routing #:

BENEFICIARY

• Beneficiary Name
• Beneficiary Account #
• Specific Loan or Account # (only if needed)

Wire Transfers:
A wire transfer is a swift and direct method of transferring funds from one financial institution to another. Wire transfers are immediate or take only a few hours. They typically occur through bank-to-bank communication or via specialized wire transfer services. The sender provides the recipient’s account number, routing number, and other relevant details. Wire transfers often involve higher fees due to their speed and security. Commonly used for large transactions, international transfers, or urgent payments. Wire transfers are secure but irreversible once executed. The sender’s bank verifies the transaction and ensures the funds reach the recipient.

Electronic Fund Transfers (EFTs):
EFTs encompass a broader category of digital transactions and can be instantaneous or take a few business days. They occur through various channels, including ACH (Automated Clearing House), debit/credit cards, online banking, and mobile apps.
EFTs require the recipient’s account information, but the process is less stringent than wire transfers. EFTs are usually low-cost or free. Used for regular payments (e.g., bills, salaries), online purchases, and recurring transactions. EFTs are generally secure, but some methods (like card payments) may involve fraud risks. Transactions are verified by the involved parties and financial institutions.

In summary, wire transfers are swift, secure, and costly, while EFTs encompass a wider range of digital payment methods with varying speeds and costs. Choose the method that best suits your needs!