Posted February 8, 2017
HERNDON, Va., Feb. 8, 2017 – NACHA—The Electronic Payments Association® today announced the election of new officers to its Board of Directors. The Board oversees the governance and administration of NACHA and addresses topics of strategic significance to the ACH Network. It consists of 19 directors representing a diverse set of depository financial institutions of all sizes and types that use and support the ACH Network.
Additionally, NACHA recently added two new representatives to its Board Advisory Group, which consists of diverse end-user organizations and technology solution providers who engage directly with the NACHA Board of Directors and provide input on topics of strategic importance to the use of ACH payments and evolving ACH Network capabilities. The Board Advisory Group is yet another way in which NACHA reaches out and listens to various stakeholders across the payments industry.
The newly elected Board officers are:
The new representatives to the Board Advisory Group are:
“We are pleased to welcome the new Board officers who range from small natural person credit unions to large institutional banks, in addition to the new and re-elected members of the Board – all of whom have strong and equal voices at the Board level, regardless of the size of the financial institution represented,” said Janet O. Estep, NACHA president and CEO. “It is through the important and inclusive engagement of the Board of Directors and Board Advisory Group that we continue to successfully evolve to meet today’s needs and tomorrow’s innovations on the ACH Network.
“We are looking forward to working together with an array of market stakeholders of all types and sizes represented on our Board and Board Advisory Group to further grow the ACH Network,” Estep said.
In addition to the newly elected officers, the members of the Board include:
The nonvoting, advisory representatives of the ACH Operators to the Board are:
“It is an honor to be elected Chairperson and to work with this esteemed group of payments industry professionals who all have a commitment to the continued vibrancy of one of the largest, safest, and most reliable payments systems in the world,” said Laura Lee Orcutt. “I am looking forward to working with NACHA, the Board, and the Board Advisory Group with a strategic eye on the future.”
The new Board Advisory Group members join the existing representatives:
The Board Advisory Group met with the NACHA Board Directors in November to discuss several strategic payments topics, including the successful launch of the first phase last September of Same Day ACH, which made ACH credit transactions eligible for same-day processing.
In planning for 2017, the group discussed how to further ensure that businesses, in particular, are prepared for phase two of Same Day ACH, which enables same-day debit transactions, and becomes effective Sept. 15, 2017. Additionally, the group explored the value of standardized APIs to support payments and information exchange and the role NACHA and the ACH Network could play in facilitating their use to ensure the safety, security and efficiency of payments into the future.
More information about NACHA’s governance is available at https://www.nacha.org/about/governance.
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