UPCOMING EVENTS
NACHA Welcomes MetaBank as Direct Financial Institution Member
07/15/2010
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Top 50 Originator and Receiver Joins Industry Leaders as New Member
HERNDON, Va., July 14, 2010 - NACHA — The Electronic Payments Association announced today that MetaBank, a federally-chartered savings bank headquartered in the Midwest and one of the nation’s top originators and receivers, has joined the organization as a direct financial institution member. Meta Payment Systems (MPS), a division of MetaBank, is a recognized leader in the prepaid card industry, providing innovative payment solutions nationally in collaboration with market-leading partners.
“As a leader in the payment service industry, we are excited to partner with NACHA to further support our business partners,” says Bob Nelson, vice president of MPS financial operations. “We look forward to taking an active role in shaping the future landscape of the financial services industry through membership.”
Members realize significant benefits, including opportunities to vote on the NACHA Operating Rules, nominate individuals for the NACHA Board of Directors, and take a leadership role on NACHA task forces, committees, and work groups. Direct financial institution members of NACHA gain up-to-date information on strategic industry issues and increase their financial institution's visibility and exposure in the highly competitive electronic payments market. Members expand their market relationships as they engage in a collaborative approach to understand and address the challenges and opportunities facing the industry today.
“NACHA membership helps to position financial institutions for the future by keeping them abreast of critical advances and innovation that will shape tomorrow’s industry,” said Janet O. Estep, NACHA president and CEO. “Membership gives financial institutions the tools and information they need to manage accelerating change and stay ahead of the curve in today’s evolving payments landscape. On behalf of all our members, I welcome MetaBank to the NACHA family.”
NACHA now has 44 direct members, consisting of 26 financial institutions and 18 regional payment associations. In addition to MetaBank, direct member financial institutions include American Express Centurion Bank, The Bancorp Bank, Bank of America, BB&T, BMO Capital Huntington National Bank Markets, BNY Mellon, Capital One, Citibank N.A., Discover Financial Services, Inc., Fifth Third Bank, First PREMIER Bank, J.P. Morgan, KeyBank, Navy Federal Credit Union, PNC Bank, RBS —Citizens Bank, Regions Bank, SunTrust, Synovus Financial Corporation, TCF National Bank, TD Bank, U.S. Bank, Wells Fargo, and Zions Bancorporation.
NACHA—The Electronic Payments Association
NACHA supports the growth of the ACH Network by managing its development, administration, and governance. The ACH Network facilitates global commerce by serving as a safe, efficient, ubiquitous, and high-quality electronic payment system. NACHA represents nearly 11,000 financial institutions through 18 regional payments associations and direct membership. Through its industry councils and forums, NACHA brings together payments system stakeholder organizations to encourage the efficient utilization of the ACH Network and develop new ways to use the Network to benefit its diverse set of participants. To learn more, visit www.nacha.org, www.electronicpayments.org and www.payitgreen.org.
MetaBank
MetaBank is a federally-chartered savings bank with four market areas: Brookings, Central Iowa, Northwest Iowa and Sioux Empire. The Meta Payment Systems (MPS) division supports clients internationally and manages four primary business lines that contribute to revenue and deposits: prepaid cards, credit products, Automated Teller Machine (ATM) sponsorship and Automated Clearing House (ACH) origination. Twelve bank offices and two MPS offices support MetaBank customers MPS partners and consumers. Meta Trust provides professional trust services. Meta Financial Group is traded on the NASDAQ Global Market®: CASH. For more information visit http://www.bankmeta.com.
OBSERVATIONS
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