Case Study

Veem helps American Credit Union delight their customers with payments

America’s Credit Union helped Neptune Seafood, Inc.—a family-owned seafood wholesaler in the Pacific Northwest—grow its business on a global scale using Veem.


Executive Summary

In the search to facilitate international money transfers without being encumbered by hefty transaction fees, Neptune Seafood, Inc. turned to its banking partner, America’s Credit Union (ACU), for solutions. Utilizing Veem’s integrated payments, ACU offered its customer a solution that erased fees and reduced landing costs, while mitigating risk, ensuring global compliance, and providing end-to-end dedicated support.

“ACU serves nearly 40,000 members and businesses at Joint Base Lewis McChord (JBLM) and in the Pacific Northwest.”


America’s Credit Union (ACU) was founded in 1954 as the Fort Lewis Federal Credit Union. It later rebranded as ACU, to better-represent its expanding membership of military members and Pacific Northwest residents. In 2017, the credit union developed a lending program for small business, complete with a suite of additional financial products; however, due to the cost and complexity of global payments, international wire transfers weren’t among them.

Neptune Seafood, Inc. is a family-owned seafood wholesaler operating out of Tacoma, WA, offering farmed and wild geoduck, oysters, sea urchin, Dungeness crab and more to customers around the world. The company has a strong international presence, requiring it to send international payments on a weekly basis. To do so, it relied on international wire transfers through First Citizens Bank and Bank of America.

ACU took on Neptune Seafood, Inc. as a client in 2020 and, shortly thereafter, partnered with Veem to enable more sophisticated payment solutions.


ACU needed to offer global payments to customers like Neptune Seafood to remain competitive and retain customers who otherwise would seek these services from big banks. For Neptune Seafood, Inc., the decision to work with ACU was initially a financial one. As it focuses on growth and adds more customers, it needed a simple way to send and receive funds from its global customers and vendors.

According to Neptune Seafood, Inc., the cost of sending and receiving payments through traditional banking institutions borders on prohibitive. “We paid exorbitant fees to wire money to our vendors for many years, until we started working with ACU and using Veem.”

Neptune Seafood, Inc. pays several international vendors on a weekly basis. Each transaction through First Citizens Bank and Bank of America was accompanied by hefty fees, captured by the banking institution itself or at unfavorable exchange rates. “At First Citizens Bank we even paid a monthly fee for a wire module, as well as a per-wire fee,” according to Neptune Seafood, Inc.


ACU needed to offer a solution for customers to remain competitive and ensure satisfaction. For a credit union, it can be expensive to offer complex services associated with global payments. Traditional wire transfers are also a poor user experience.

“We do not offer international wires at ACU; and even if we had, they can be very costly to our business members,” says David Hughes, SVP Marketing at ACU.” Since we didn’t offer an alternative, we needed a simple, safe and speedy solution for our members doing business in other countries.”

Veem became that alternative.

“We weren’t really sure whether a better option existed until we talked to ACU,” according to Neptune Seafood. It. has since streamlined its approach to vendor payments and international money transfer. Each month, the company sends 18-20 payments through Veem, ensuring its suppliers are paid quickly, at minimal cost to the business. ACU is able to provide complete transaction tracking through Veem as part of a unified solution for global payments.


ACU is able to provide its client with a complete banking solution that accommodated its diverse array of transactions, while lowering the company’s fees associated with outgoing and incoming payments. Veem’s solution also removed the need for compliance oversight on behalf of ACU, while providing end to end online payment tracking and support. It also opened the door for expanded revenue opportunities for ACU, including providing lines of credit and expedited payments, allowing them to remain competitive.

With Veem, Neptune Seafood has access to better exchange rates and has saved thousands in fees. “While saving was a key driver, I was delighted by the simplicity of sending payments and the exceptional support”.

Veem served as a simple, convenient, secure plug-and-play option, allowing ACU to offer solutions to its customers with no disruption or liability. This not only helped the credit union foster the continued success of its members, it promoted a level of convenience above and beyond for Neptune Seafood, Inc. All it takes for the company to quickly and conveniently send and receive money is a few clicks.

   Reliable/transparent payments


   Convenience — Effortless, all needs met in just one place


About Veem

Veem is a global payments network built for businesses. We began in 2014 with the intention of making international money transfers as simple as purchasing a cup of coffee. Since then, we’ve revolutionized the way businesses pay and get paid around the world by empowering owners, accountants, and financial professionals to take control over their payment processes. We level the playing field by providing enterprise-level financial tools and negotiating power to the small businesses who need it most.