Five Credit Unions Among Nation's Leading ACH Receivers
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.