Southwest Corporate makes it simple and inexpensive to convert foreign currency for your members.

Foreign currency collection letters received by noon are converted into U.S. dollars the next business day. An advice of conversion and deposit is mailed back to the credit union that same day. Collection letters are kept separate by type of currency and depositor so there is no need for additional detail. A copy of the original collection letter, with tracking number and members' name, is mailed back to the credit union along with the advice notice.

And best of all, the conversion amount can be a cash concentration tool for your credit union, since all conversions are conveniently credited to your interest-bearing overnight account.

Converting foreign currency into U.S. dollars through Southwest Corporate couldn't be easier. There are no contracts to sign or compensating balances to establish. The only thing to remember when using the foreign currency conversion service is to make separate deposits for each type of currency and each deposit received by your credit union. Each separate deposit should be delivered by registered mail or courier to Southwest Corporate. This assures both the security of the funds and speedy, accurate processing.

To put this service to work for your credit union, contact an Account Executive at 800.442.5763.