NACHA: Expansion and Independence

ACH Volume: 170 million payments

NACHA: Streamlining and Rule-writing

ACH Volume: 1.33 billion payments in 1989, valued at $5.1 trillion

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The FED expands to 32 ACH processing sites

The Federal Reserve Bank begins pricing for ACH services and expands to 32 processing sites.

Magnetic tapes of ACH transactions travel along with cancelled checks in trucks, giving rise to the joke that EFT stands for Extra Fast Trucks.
Freight truck

payment rule is a boon to business-to-business

NACHA’s corporate trade payment rule (CTP) is a boon to business-to-business ACH usage. Corporate and governmental entities use it to pay creditors. As technology progresses, CTP will be replaced in 1996 by Corporate Trade Exchange (CTX), which allows easier tracking of payments.

The U.S. Treasury uses ACH to pay all its vendors for items under $25,000.

Mass-market mobile phones go on sale. High cost and limited cellular networks hobble the rollout.


In 1985 NACHA separates from the American Bankers Association and hires its first CEO, William Moroney.

Bill Moroney

members join and the organization streamlines

NACHA membership grows as Visa U.S.A. and ten financial institutions applying as single-bank ACH associations choose to become members. The organization also streamlines its structure, replacing its unwieldy 55-member board with a smaller board.

NACHA launches its Affiliate Program as a venue for dialogue and information sharing, providing voice to non-financial institutions.

Commercial ACH transaction volume exceeds government transaction volume for the first time in the U.S.

Educational intensive for ACH professionals

NACHA offers the first Payments Institute, a multi-day educational intensive for ACH professionals.

1987 NACHA Rules Book
The first paperbound NACHA Operating Rules book is published. Prior versions were available only in 3-ring binders.

Corporate trade exchange rule adopted

Corporate trade exchange (CTX) rule is adopted, allowing multiple annotated payments to trade creditors in a single transfer of funds.

Bill Moroney resigns. Elliott McEntee, a seasoned Federal Reserve executive, takes over as CEO.

Generic checkThe Federal Reserve enacts Regulation CC, which sets endorsement standards on checks paid by depository financial institutions and mandates faster return of unpaid checks.

TV ads promote direct deposit

After approval of a $1.2 million national marketing campaign focused on Direct Deposit, NACHA launches its first national TV ad. It uses an animated talking check, nicknamed the Big Mouth, to promote Direct Deposit.

NACHA forms its first council, the Bankers EDI Council.The Council structure soon becomes central to NACHA, providing organizations of all types a voice in the development of ACH rules, guidelines, and practices.


Industry leader. Organization builder. Manager with a style all his own…

Elliott McEntee

Continue Exploring the 1980s

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Emoji Emoticon
1982: Scott E. Fahlman, a professor at Carnegie Mellon University, creates the first emoticon: :-)
He calls it a joke marker. The rest of the world calls it a smiley. These pictorial representations of facial expressions proliferate and become common in emails and, later, texting.
Dow Jones Black Monday
1987: October 19 is dubbed Black Monday when the Dow Jones Industrial Average loses 22.6% of its value in one day.