What is an ACH transfer?

An ACH transfer refers to any electronic movement of money between different financial institutions that goes through the Automated Clearing House (ACH) network, one of the biggest U.S. payment systems that has been around for almost 40 years. ACH transfers are commonly used for online bill pay, and direct deposit, and transferring funds between financial institutions. For example, PayPal and Venmo, both use the ACH network. ACH transfers are more convenient and less expensive than wire transfers, which typically incur fees both the sending and receiving financial institutions.

Since Clean Energy Credit Union isn’t initially offering checking accounts, we’re hoping that you’ll move your savings account to Clean Energy Credit Union while retaining your current checking account. You would then be able to easily transfer funds between your accounts in Clean Energy Credit Union and your other financial institution via a free ACH transfer on your computer or mobile device.