Big changes are coming to the way financial institutions send and receive payment messages, and ISO 20022 is leading the charge. This international standard brings a more modern, detailed, and efficient format for payments, helping credit unions like yours stay in step with evolving industry expectations.
For credit unions, ISO 20022 means richer payment data, better fraud prevention, and smoother reconciliation. Implementation will be in July 2025 - so now’s the perfect time to start preparing.
To make the transition easier Millennium Corporate Credit Union is working hand in hand with our vendor to simplify the wire entry screens to mirror the environment you are using today. We’re also hard at work preparing informational sheets and guides that will walk you through each step of the process, ensuring a seamless transition. Be on the lookout for more information and remember that Millennium Corporate is here to support you and answer any questions that may arise!
Have questions or concerns about ISO20022? Email marketing@millenniumcorporate.org or call 800.721.2677.