Washington Mutual Joins NACHA
Washington Mutual (WaMu) has joined NACHA as a direct financial institution member. According to the most recent NACHA Top 50 list, WaMu is the nation's fifth largest receiving financial institution of ACH payments.
"Membership in NACHA provides WaMu with an opportunity to help shape the future direction of the ACH Network and the payments system," says Nandita Bakhshi, Payments Division Executive of WaMu. "As electronic payments continue to trend upward, we are eager to participate in the many initiatives underway at NACHA.""Significant changes in the payments industry continually present financial institutions with new opportunities and challenges," said Elliott C. McEntee, President and Chief Executive Officer of NACHA. "As the ACH Network continues to grow in importance to financial institutions and their customers, membership in NACHA gives financial institutions the information and tools they need to succeed in today's highly competitive environment. On behalf of all the members, we welcome WaMu to NACHA."
NACHA now has 42 direct members, consisting of 23 financial institutions and 19 regional payment associations. The other financial institution members are ABN-AMRO, American Express Centurion Bank, Bank of America, BB&T, Capital One, Citigroup, Citizens Bank, Commerce Bank, Discover Bank, Fort Knox National Bank, Harris, N.A. (BMO Capital Markets), JPMorgan Chase, KeyBank, Mellon, National City, PNC Bank, Synovus Financial Corp., TCF National Bank, US Bank, Wachovia, Wells Fargo, and Zions Bancorporation.
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