MARCH 15th to May 15th PILOT

Electronic Mortgage Payout Service – eChequeOut™


On, March 15th , 2019 Prospera Credit Union and Atsource Solutions Inc. will be launching a trial of the Atsource’s eChequeOut™ service available within the existing Atsource Mortgage Payout exchange and Discharge product.


This new service will greatly improve the efficiency of paying out a mortgage with Prospera Credit union. Some of the benefits you will experience include:


  1. Elimination of courier and staff costs to deliver the payout cheque to the Financial Institution.
  2. Tracking systems to ensure payments are received.
  3. Elimination of all internal costs to produce and reconcile a physical cheque.
  4. Automatic payout confirmation report that includes the electronic receipt from the Financial Institution and Payout Statements packaged and digitally signed as one complete document for forwarding to Buyers Legal Professional.


As well as delivering the above benefits to you, the service will provide important benefits in terms of fraud reduction and cost efficiencies for Prospera Credit Union. We are seeking your cooperation during the 60 days trial period by using the new eChequeOut™ service when you forward your funds. There is a one-time setup process that needs to take place before the service can be used. To set up this service up with Prospera Credit Union, please contact Atsource directly at 604-538-3221 and an onboarding specialist will walk you through getting started.


Once you have been set up you will see the service available in the Atsource transaction when you view your payout statement. You will find making an eChequeOut payment is very quick and simple.


With eChequeOut, Atsource combines all the steps of the mortgage payout and discharging process into one easy to use service that will result in significantly better customer service and eliminate costs for all concerned. Prospera Credit Union will be monitoring user satisfaction during the trial period. Because all funds are transferred to the Prospera settlement account and there is no way for funds to be transferred to any other account, the Atsource service is very secure.


For the trial period of 60 days, fees for eChequeOut™ service will be waived.  


Further information about the program features and benefits can be obtained by calling Atsource customer service department at 604.538.3221.


Retail Mortgage Operations

Prospera Credit Union