Nacha announced today that SouthState Bank has become its newest Direct Member. With SouthState Bank's addition, Nacha now has 46 Direct Members, which include financial institutions and Payments Associations.
"We are thrilled to welcome SouthState Bank to our community of Direct Members," said Jane Larimer, President and CEO of Nacha. "We look forward to SouthState Bank’s participation in the Nacha Rulemaking process for the ACH Network and influencing the strategic direction for Nacha and the payments industry."
"Joining Nacha as a Direct Member gives us a significant role in shaping the rules governing the ACH Network, ensuring our customers can continue to send and receive payments quickly and securely," said Mark Robertson, EVP, Director of Corporate Financial Services Administration at SouthState Bank.
Nacha's Direct Membership program offers financial institutions and organizations a unique opportunity to help shape the future of the ACH Network. As Direct Members, they can vote on proposed Nacha Operating Rules, contributing to the ACH Network's efficiency, security and reliability. Additionally, Direct Members can nominate, elect and serve on Nacha's Board of Directors, providing strategic guidance for both the ACH Network and Nacha's role as a payments industry association. Furthermore, Direct Members contribute their insights and recommendations to ensure the ACH Network remains innovative and thriving by participating in Nacha committees and workgroups.
More information about Nacha’s Direct Membership program is available on Nacha’s website.
About Nacha
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. There were 31.5 billion ACH Network payments made in 2023, valued at $80.1 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 SouthState Bank
SouthState Corporation (NYSE: SSB) is a financial services company headquartered in Winter Haven, Florida. SouthState Bank, N.A., the company’s nationally chartered bank subsidiary, provides consumer, commercial, mortgage and wealth management solutions to more than one million customers throughout Florida, Alabama, Georgia, the Carolinas and Virginia. The bank also serves clients coast to coast through its correspondent banking division. Additional information is available at SouthStateBank.com.
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Contacts
Dan Roth
Nacha
571-579-0720
media@nacha.org
