Fifth Third Bank Joins NACHA

Fifth Third Bank has joined NACHA – The Electronic Payments Association as a direct financial institution member, becoming the third new NACHA member in 2007. According to the most recent NACHA Top 50 list, Fifth Third is the nation’s 18th largest originating financial institution and the 14th largest receiving financial institution of ACH payments.

"Becoming a direct member of NACHA was the next logical step as part of our commitment to help clients take full advantage of the evolution of paper to electronic payments and the expansion of ACH," said Patrick Moore, senior vice president and director of Treasury Product Management for Fifth Third Bank. "Fifth Third Bank is proud to be among the top 20 financial institutions in the nation when it comes to electronic payments processing, and we view our membership with NACHA as an important opportunity to participate in the vital payment initiatives they currently have under way."

"ACH products continue to be adopted in the marketplace, so membership in NACHA becomes more important for banks that want to be leaders in the payments business," said Elliott C. McEntee, President and Chief Executive Officer of NACHA. "Membership in NACHA provides important benefits to financial institutions, including the ability to vote directly on the NACHA Operating Rules. On behalf of all the members, we welcome Fifth Third to NACHA."

NACHA now has 43 direct members, consisting of 24 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 Financial Group, 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, Washington Mutual, Wells Fargo, and Zions Bancorporation. NACHA’s 19 payment association members collectively represent more than 11,000 depository financial institutions.