CUs Lead in Taking in ACH Money But Not in Giving it Out
Four credit unions are among the top 50 U.S. financial institutions that receive money through the Automated Clearing House system, according to the Electronic Payments Association.
Navy Federal Credit Union, the nation's largest, came in at number 19 on the Association's list of the top 50 receivers of ACH payments. State Employees' Credit Union in Raleigh, N.C. came in number 31. The Golden 1 Credit Union in Sacramento, Calif. came in at number 44 and America First Credit Union in Ogden, Utah came in at number 49.
No credit unions were on the Association's list of the top 50 originators of ACH transactions.