FOR IMMEDIATE RELEASE
Contact: Vicki Christner – CUNA Communications; 202-508-6754; firstname.lastname@example.org
Washington, D.C. (September 23, 2015) – Credit Union National Association (CUNA) chief advocacy officer Ryan Donovan released the following statement on the Federal Reserve Banks’ same-day automated clearing house (ACH) service:
“In comments to NACHA and the Federal Reserve, CUNA expressed concerns with the requirements that all receiving financial institutions have the ability to receive and post same-day ACH payments. While we support the goal of a faster payments system, we believe more could have been done to consider the implementation and other ongoing costs credit unions will face - particularly our smaller credit unions.”
With its unique network of affiliated state credit union leagues, Credit Union National Association (CUNA) serves America's credit unions, which are owned by more than 100 million consumer members. Credit unions are not-for-profit cooperatives providing affordable financial services to people from all walks of life. For more information about CUNA, visit www.cuna.org or follow @CUNA on Twitter. For more information about credit unions, visit www.aSmarterChoice.org and follow @asmarterchoice on Twitter. Visit the CUNA Press Room for a full listing of media mentions, press releases and resources to stay informed on current events within the credit union industry.