NACHA, the Electronic Payments Association, has reported thatfive credit unions were among the top 50 recipients of ACHtransfers in the U.S. in 2011. The five are Navy Federal CreditUnion, State Employees' Credit Union, The Golden 1 Credit Union,America First Credit Union and the Boeing Employees CreditUnion.

Total ACH payment volume nationwide grew to over 20.2 billiontransactions in 2011, up 4.35% over 2010, the association said.

“These statistics show that more and more consumers andbusinesses are making the conscious decision to use electronicpayment options over paper checks or cash,” said Janet Estep, CEOof NACHA. “As advancements within the payments industry continue,ACH payments also continue to adapt to meet various needs of bothconsumers and businesses alike.”

“Consumers want convenient, versatile, and secure paymentoptions,” Estep added. “Direct Payment via ACH puts consumers incontrol and provides them with the flexibility to make paymentsthrough their bank or credit union's online banking service, thecompanies they do business with, and via mobile applications. Thebreadth of safe and convenient payment options available throughthe ACH Network makes electronic payments a flexible choice forconsumers.”