Synovus Financial Corp. Joins NACHA

Synovus Financial Corp. has joined NACHA – The Electronic Payments Association as a direct financial institution member.

"As consumers and business use more electronic payments, membership in NACHA is important for Synovus to be able to contribute to the development of the payment system," said Kenneth Richey, Enterprise Deposit Officer of Synovus. "We look forward to working with our fellow NACHA members on strategic improvements to the ACH Network and new payment applications."
 
"ACH products continue to be adopted in the marketplace, so membership in NACHA becomes more important for banks that want to be leaders in the payments business," said Elliott C. McEntee, President and Chief Executive Officer of NACHA. "On behalf of all the members, we welcome Synovus to NACHA."

NACHA now has 41 direct members, consisting of 23 financial institutions and 18 regional payment associations. The other financial institution members are ABN-AMRO, American Express Centurion Bank, Bank of America, BB&T, Capital One, Citigroup, Citizens Bank, Commerce Bank, Discover Bank, Fort Knox National Bank, Harris, N.A. (BMO Capital Markets), JPMorgan Chase, KeyBank, Mellon, National City, PNC Bank, TCF National Bank, US Bank, Wachovia, Washington Mutual Bank, Wells Fargo, and Zions Bancorporation.

About the ACH Network and NACHA – The Electronic Payments Association The Automated Clearing House (ACH) Network facilitates commerce, electronically, by serving as an efficient, reliable and secure payments system. NACHA, led by member depository financial institutions and payments associations, fulfills this purpose by managing the development, administration, and governance of the ACH Network, and by providing superior services and value to its members as the industry association responsible for ACH payments. NACHA represents more than 11,000 financial institutions through direct memberships and a network of regional payments associations, and 650 organizations through its industry councils. Visit NACHA on the Internet at http://www.nacha.org.