Corporate America CU Joins Nacha to Represent Industry in ACH Matters
The CU is the first corporate credit union to become a direct member of the organization that manages the ACH network.
The $2.7 billion Corporate America Credit Union in Irondale, Ala., has become the newest direct member of Nacha in Herndon, Va.
“Nacha welcomes Corporate America Credit Union as a direct member, and we look forward to their insights and perspective as we continue to ensure the modern ACH Network meets the payments needs of American consumers, businesses and government agencies,” Nacha President/CEO Jane Larimer said in a prepared statement on Tuesday. “Corporate America Credit Union joins other direct members to guide the future of the ACH Network and the Nacha operating rules.”
Corporate America provides its member credit unions with payments, investments and liquidity solutions as well as other services.
Nacha, which manages the ACH network, now has 44 direct members including financial institutions and payments associations that contribute to Nacha’s rulemaking process, professional accreditation programs, and ACH advocacy and education initiatives. There were 30 billion ACH Network payments made in 2022, valued at nearly $77 trillion, according to Nacha.
“We are excited to be the first corporate credit union to join as a direct member of Nacha,” Corporate America Chief Innovation Officer Lisa Coffey said. “CACU is dedicated to advocating on behalf of not only our more than 500 members but the credit union movement as a whole. We feel this membership further demonstrates our dedication and commitment to helping credit unions thrive as we represent them in the ACH rulemaking process.”
Direct members can nominate, elect and serve on Nacha’s board of directors and participate in Nacha committees and workgroups, and educate stakeholders about the value of the ACH Network.