Five large credit unions are among the top 50 financial institutions for receiving electronic transaction through the Automated Clearing House system in 2012, according to NACHA – The Electronic Payments Association.
They are the 4.2 million-member, $54 billion Navy Federal Credit Union in Virginia; the $1.8 million-member, $25 billion State Employees' Credit Union in North Carolina; the 801,000-member, $11 billion Boeing Employees Credit Union in Washington state; the 629,000 -member, $7.9 billion The Golden 1 Credit Union in California and the 598,000- member, $5.5 billion America First Credit Union in Utah.
The largest receiver and originator of electronic payment transactions was Bank of America.
NACHA reported that the top 50 financial institution received 10.0 billion ACH transactions in 2012, accounting for 55.6% of ACH Network received volume last year.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
