Nacha announced today the addition of Webster Bank as a Nacha Direct Member.
Nacha has more than 40 Direct Members, consisting of financial institutions and Payments Associations (PAs) that collectively represent nearly all financial institutions across the United States.
"On behalf of Nacha, its Board of Directors and members, it is my pleasure to welcome Webster Bank as a Direct Member," said Jane Larimer, President and CEO of Nacha. "We look forward to working with Webster and our other Direct Members to shape the future of the fast and modern ACH Network."
Nacha's Direct Members are active participants in Nacha's efforts to educate and advocate for the ACH Network with regulators, legislators and other stakeholder organizations whose policies affect the payments system. These efforts help increase understanding of financial institutions' role in the payments system and help them serve their customers more effectively.
"As a member of the Nacha Board of Directors and an active member in the Payments Innovation Alliance, Webster Bank has seen firsthand the added value Nacha provides for its members," said Phil Picillo, Senior Vice President, Treasury & Payment Solutions, Webster Bank. "We are looking forward to expanding our relationship as a Nacha Direct Member and helping to shape the future of the ACH Network to meet the evolving needs of the payments industry."
In addition to Webster Bank, Nacha Direct Member financial institutions include: American Express National Bank, Bank of America N.A., Barclays Bank Delaware, BMO Harris Bank, BNY Mellon, Cadence Bank, Capital One, Citibank N.A., Citizens Financial Group, Commerce Bank, Deutsche Bank, Discover Financial Services, Inc., Fifth Third Bank, First PREMIER Bank, Huntington National Bank, J.P. Morgan Chase & Co., Key Bank, M&T Bank, Merrick Bank Corporation, MetaBank N.A., MUFG Union Bank, Navy Federal Credit Union, North American Banking Company, PNC Bank, Regions Bank, Silicon Valley Bank, Synovus Financial Corporation, TD Bank, N.A., Truist, UMB Bank N.A., U.S. Bank, and Wells Fargo.
Nacha governs the thriving ACH Network, the payment system that drives safe, smart, and fast Direct Deposits and Direct Payments with the capability to reach all U.S. bank and credit union accounts. More than 29 billion ACH Network payments were made in 2021, valued at close to $73 trillion. Through problem-solving and consensus-building among diverse payment industry stakeholders, Nacha advances innovation and interoperability in the payments system. Nacha develops rules and standards, provides industry solutions, and delivers education, accreditation, and advisory services.
About Webster Bank
Webster Financial Corporation ("Webster") is a leading commercial bank in the Northeast that provides a wide range of digital and traditional financial solutions across three differentiated lines of business: Commercial Banking, Consumer Banking and its HSA Bank division, one of the country's largest providers of employee benefits solutions. Headquartered in Stamford, CT, Webster is a values-driven organization with $65 billion in assets. Its core footprint spans the northeastern U.S. from New York to Massachusetts, with certain businesses operating in extended geographies. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.