FedNow Instant Payments Live
December 3rd, 2025SOCU now accepts FedNow instant payments. Through FedNow, members can receive money instantly from participating financial institutions into checking or savings accounts. You can now receive funds faster and at any time of the day!
A few details about this new form of receiving funds:
• Only checking/savings are eligible, loans are not eligible.
• Payments received are instant, 24/7/365, and cannot be reversed.
• SOCU only offers FedNow receive. Sending funds via FedNow is not enabled at this time.
What is FedNow?
FedNow is the Federal Reserve's instant payment service that allows financial institutions to provide 24/7, real-time money transfers for their members/customers. It operates as an infrastructure that banks/credit unions can use to send and receive payments instantly, with funds becoming available in seconds through an institution's own app or online portal.
Do I need to signup for FedNow?
No, payments sent to your SOCU account via FedNow instant payments are automatically routed into your account using this new method.
Where can I find a list of participating institutions?
The Federal Reserve maintains an up-to-date list of all financial institutions participating in FedNow. You can view it here: https://www.frbservices.org/financial-services/fednow/organizations
What would cause the payment to fail?
If a payment fails, this may be due to: Dormant or closed account number was provided to sender or incorrect routing number/account number was provided to sender
Will traditional ACH payments still be accepted?
Yes. Traditional ACH payments will continue to be accepted. FedNow is simply an additional option for receiving funds.