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 support your continued readiness for ISO 20022, Millennium Corporate Credit Union has developed a new ISO 20022 Domestic Wire Reference Guide & Overview. This guide is designed to help you navigate the upcoming transition by outlining key changes, impacts to domestic wires, and how you can prepare.
To assist your institution in adapting to these changes, our reference guide is now available for download on coreCONNECT. You can find it under the Downloads tab (right-hand corner of coreCONNECT). Once in the Downloads section, you’ll find ISO 20022 on the left side of the screen. Click on that, and there you’ll find the guide listed as ISO 20022 Domestic Wire Reference Guide & Overview.
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 engage@millenniumcorporate.org or call 800.721.2677.