Getting Back to Business after Y2K

---

We can all breathe a big sigh of relief--Y2K is a thing of the past. Now that the hours of planning and hard work are behind us, it's time to focus on the projects that have been put on hold for the last few years. We would like to suggest a few ways that your institution can take advantage of available resources.

Take Another Look at Fed Services
Are you getting the biggest "bang for your buck" with your correspondent services? Now is a good time to take a step back to determine if there are changes that you can make to improve operations and lower costs.

Your Fed account executive can create a comparative cost analysis for your institution that shows how the Fed's fees stack up to the fees that you are currently paying for correspondent services. Based on the cost analysis, your account executive can also suggest ways that your institution can save money and even improve the services that you provide to your customers.

Contact your account executive if you are interested in receiving a cost analysis for your institution.

Join an ACH Association
Is your institution interested in providing or promoting electronic payments but not sure that you have the resources? Why not consider joining an ACH association?

Associations such as Mid-America Payment Exchange (MPX) and Southern Financial Exchange (SFE) can support your efforts to provide electronic services for your customers. These two regional organizations offer assistance to financial institutions on virtually any ACH-related issue, from how to start originating ACH to the more complicated procedures for conducting an ACH audit. Both organizations also offer operational assistance, training classes and educational materials for your employees, as well as promotional items for external marketing.

Missouri, Illinois, Indiana, Kentucky and western Arkansas fall under MPX's territory; Tennessee, Mississippi and eastern Arkansas are part of SFE's region. (See box below for contact information.)

Get Online
Does your institution take full advantage of the information available on the Internet? The Federal Reserve and other financial services organizations offer a wealth of resources online, including customer publications, brochures, operations manuals, regulations and much more. Here are a few noteworthy sites you might like to bookmark:

www.frbservices.org-- This site offers a wide range of information on the Federal Reserve's financial services, including product descriptions, fee schedules and regional contact
information.

www.stls.frb.org--The St. Louis Fed's Internet site contains information on local Fed services, Eighth District publications and regulatory changes, as well as news on community affairs and economic research.

www.nacha.org-- NACHA's site offers the latest information on electronic payments, including ACH rule amendments, pilot programs and industry conferences.

www.directdeposit.org-- Send your business and consumer customers here to learn about electronic payments.

www.treas.gov--The U.S. Treasury's site is a great starting point for finding information on Treasury Bureaus such as the U.S. Mint, Bureau of Engraving and Printing, or the Financial Crimes Enforcement Network.

www.bai.org--The Bank Administration Institute is the industry's premier provider of financial services information, training courses and educational materials.

www.appartnership.org--This site provides information on the Automated Payments Partnership, a multi-state alliance that conducts ongoing ACH marketing and educational campaigns (see article on front page for more information on the Partnership).

Regional ACH Associations
	Mid-America Payment Exchange (MPX) 324 East 11th Street Suite 2400 Kansas City, MO 64106-2417 (816) 474-5630 or 1-800-500-0100 www.mpx.org
	Southern Financial Exchange (SFE) 1340 Poydras Street Suite 2010 New Orleans, LA 70112-1221 (504) 525-6779 www.sfe.org