NACHA
Nacha, originally the National Automated Clearinghouse Association, manages the ACH Network, the backbone for the electronic movement of money and data in the United States, and is an association for the payments industry. The ACH Network serves as a network for direct consumer, business, and government payments, and annually facilitates billions of payments such as Direct Deposit and Direct Payment. The ACH Network is governed by the Nacha Operating Rules.
| Founded | June 20, 1974 |
|---|---|
| Type | Not-for-profit |
| 23-7451693 | |
| Legal status | 501(c)(6) |
| Purpose | To promote the development of electronic solutions that improve the payment system for the benefit of its members and their customers. |
| Location | |
| Services | Financial services trade association |
Members | 500+ |
| Jane Larimer | |
Revenue (2019) | $23,616,643 |
| Expenses (2019) | $22,046,071 |
Employees (2019) | 70 |
Volunteers (2019) | 100 |
| Website | www |
In 2022, the Nacha through its ACH network handled 30.00 billion payments (3.03% year-over-year (YoY) gain), totaling US$76.7 trillion (5.6% YoY gain).. From 2013-22, overall gain in the volume of transactions was 70.95%, or 5.51% annualized. The 2013-22 overall gain of the value of the transactions was 98.25%, or 7.08% annualized.
Nacha is a not-for-profit association under the Internal Revenue Service code 501(c)(6) and was incorporated in 1974. It represents more than 9,000 financial institutions divided into ten regional payments associations and direct membership. Nacha is not directly involved in the ACH transactions, but develops rules and standards and provides education, accreditation, and advisory services.