Navy Federal Joining Check Education Effort

MERRIFIELD, Va. – The $19 billion Navy Federal Credit Union is part of an effort that spans the financial services industry to educate members and customers about the coming changes to the new way checks are to be processed under Check21. The Check Conversion Education Coalition, officially named c2ec, has been formed to encourage financial firms to educate consumers on the way that checks are being processed in the wake of the check truncation act. Membership of c2ec consists of financial institutions, government agencies, ACH operators and non-profit organizations including NACHA, Bank One, JPMorgan Chase, American Express, CheckFree, Electronic Payments Network, Federal Reserve Bank, Fleet Boston Financial, Mellon Financial Corporation, Navy Federal Credit Union, Regulus, Wachovia and the US Department of the Treasury. Alan Koenigsberg, vice president and global ACH senior product manager of JPMorgan Chase, and co-chair of the coalition, said the c2ec will use educational and informational tools and Web-based seminars over the next three months to disseminate the latest information about check conversion.