Publish Date : 27-Apr-2012
The Electronic Payments Association announced today the addition of State Bank and Trust Company as a Direct Financial Institution Member. State Bank, a subsidiary of State Bank Financial Corporation, has been named one of the country\'s best-performing community banks in 2010 and 2011 and has locations in Metro Atlanta and Middle Georgia.
NACHA oversees the Automated Clearing House (ACH) Network, the backbone for the electronic movement of money and data. Utilized by all types of financial institutions, the ACH Network serves as a safe, secure, and reliable network for direct account-to-account consumer, business, and government payments, and annually facilitates billions of Direct Deposit via ACH and Direct Payment via ACH transactions.
\"We are very pleased to become a direct member of NACHA and look forward to working with the association on ACH rules and innovative electronic payments solutions,\" said Dan Speight, State Bank\'s Vice Chairman and Chief Operating Officer. \"We value the opportunities presented by direct NACHA membership, including the opportunity to contribute to the future of the ACH Network.\"
As a direct financial institution member, State Bank benefits from opportunities to be directly engaged in the development of the ACH Network and the NACHA Operating Rules. State Bank may vote directly on Rules ballots, nominate candidates to serve on NACHA\'s Board of Directors, and participate in NACHA Councils, tasks forces, committees, and workgroups. Members also actively participate in NACHA efforts to shape regulatory, legislative, and ACH policies, gain up-to-date information on strategic industry issues, and increase their financial institutions\' visibility and exposure.
\"On behalf of NACHA and its members, I welcome State Bank to the NACHA family,\" said NACHA president and CEO Janet O. Estep. \"We look forward to working with them and the industry at large to further explore dynamic solutions on the ACH Network.\"
NACHA now has 47 direct members, consisting of 30 financial institutions and 17 regional payment associations. In addition to State Bank, member financial institutions include American Express Centurion Bank, Bank of America Merrill Lynch, BB&T, BMO Harris Bank, BNY Mellon, Capital One, Citibank N.A., Discover Financial Services, Inc., Fifth Third Bank, First PREMIER Bank, Huntington National Bank, J.P. Morgan, KeyBank, M&T, Merrick Bank Corporation, MetaBank, Navy Federal Credit Union, PNC Bank, RBS – Citizens Bank, Regions Financial Corp., Silicon Valley Bank, SunTrust, Synovus Financial Corporation, TCF National Bank, TD Bank, N.A., The Bancorp Bank, U.S. Bank, Wells Fargo, and Zions Bancorporation.
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