By Elena Casal
Throughout my career in payments, I’ve had the opportunity to work closely with credit unions of all sizes. What has always stood out to me is how deeply credit unions care about their members, including helping them succeed financially, supporting local businesses, and building trust that lasts for generations.
That mission is exactly why I believe instant payments are essential for credit unions.
We are living in a world shaped by immediacy. People expect things to happen now. Not tomorrow, not in two business days. I know I look for same day shipping on purchases, and I expect my rideshare to be available within a reasonable amount of time. I also think about how my young girls approach daily interactions. Basically, if it doesn’t happen instantly, it doesn’t happen at all.
Increasingly, consumers and small business owners expect the same speed and certainty from their financial institutions. Instant payments are one of the most powerful ways credit unions can meet those expectations while staying true to their member-first values.
Why Instant Payments Matter So Much to Small Businesses
When I talk with credit union leaders, small businesses are always a central part of the conversation. These businesses are often longtime members and vital contributors to local communities. They are also the ones who feel payment delays most acutely.
For a small business, cash flow is everything, and it is often the number-one concern or challenge for a business owner. Waiting days for payments to settle can mean delayed payroll, postponed inventory purchases, or unnecessary reliance on credit. Instant payments over the RTP® network change that dynamic completely.
Payments involving small businesses represent a growing share of RTP® network volume, which now amounts to approximately 1.3 million payments each day. This means many small businesses that are members of the 401 credit unions on the RTP network can have better visibility into cash flow and greater control over their daily operating expenses.
Getting Paid Immediately
That means a landscaper can get paid immediately after finishing a job to pay workers, purchase fuel, or make repairs to equipment. A retailer can access funds from a large sale without waiting for batch processing so the owner can order more inventory on a busy Saturday. A service provider can pay employees or suppliers the moment revenue comes in so that business can keep moving.
Importantly for small businesses, instant payments on the RTP network are available 24/7/365, matching the way many small business members manage their finances – after hours. On the network, 46% of instant payments occur after normal business hours or on weekends or holidays. This isn’t an abstract benefit. Sending or receiving a payment with finality and instant availability exists today through credit unions connected to the RTP network, and it meets the everyday needs of small businesses and how they operate. [CE1]
Creating Better Member Experiences Through Immediacy
Credit unions have always excelled at building strong relationships. Instant payments elevate those relationships by removing friction from everyday financial moments. Today, credit unions on the RTP network are improving member relationships by taking advantage of instant payments capabilities, with more joining each month.
From a member’s perspective, few things are more frustrating than uncertainty, such as wondering when money will arrive, whether a payment has cleared, or if money will post in time to avoid a fee. The RTP network removes that ambiquity. Payments are confirmed in real time. Funds are available immediately. There’s no guessing.
What I hear consistently is that members equate speed with reliability and certainty. When money moves instantly, the credit union feels responsive and modern. Over time, that builds trust and confidence—and trust is the foundation of engagement. Members who trust their credit union are more likely to use more services, interact more frequently, and deepen their relationship.
Driving Deposits and Keeping Members Engaged in Your App
Veridian Credit Union, for example, saw instant payments coming in on day one. Veridian saw P2P payments, gig economy disbursements, real estate settlements, and tax refunds as key drivers for increased deposits.[CE2] [MG3]
When members know they can receive funds instantly, whether it’s income, business revenue, or a payment from another financial institution, they’re more likely to direct those funds into their credit union account and treat it as their primary funding account, not a secondary one.
Although speed is important for members, instant payments over the RTP network offer more than speed: network reliability, flexibility to send or receive payments anytime, and payment certainty. These benefits influence a member’s decision when they decide where their money lives. Immediate access encourages members to keep higher balances in accounts they can use at any time.
Meeting—and Exceeding—Member Expectations
Member expectations are increasingly “instant” for all transactions. Many members already use services that make transactions faster in other parts of their financial lives, whether through peer-to-peer apps or card transactions. I often say that instant payments are no longer a “nice to have.” Members increasingly see them as table stakes. This is especially true for younger members, but it extends across generations. Small business owners, families, and individuals all value immediacy when managing their finances.
The expectations shaping financial services don’t come from banking alone. They come from everyday experiences. Speed, transparency, and convenience are now the norms in society for shopping, media streaming, or ridesharing. It’s only natural that members expect their money to move at the same speed as everything else in their lives.
Instant payments over the RTP network allow credit unions to meet this expectation decisively. They align financial services with the reality of modern life—without sacrificing security, control, or trust.
A Natural Fit for the Credit Union Mission
From my perspective, this is a powerful moment for credit unions. Instant payments offer a tangible way to elevate member service by making financial interactions faster, clearer, and more dependable when it matters most. I see real-time payments as an opportunity for credit unions to build even deeper trust with their members, support the small businesses that anchor their communities, and continue delivering their mission in a modern, digital world. By embracing instant payments, credit unions can not only keep pace with change, but lead with service in a way that truly benefits the members they exist to serve.
Elena Casal is chief client officer with The Clearing House.
