SunTrust Banks has joined NACHA - The Electronic Payments Association as a direct financial institution member.
According to the NACHA Top 50 list, SunTrust is the nation's sixth largest originating depository financial institution (ODFI), and the eighth largest receiving depository financial institution (RDFI), of ACH payments.
"SunTrust has long been an active participant in NACHA, and we're pleased to become a direct member," said David Fuller, Senior Vice President, Treasury & Payment Solutions for SunTrust. "As electronic payments and their efficiencies become more important to our clients, SunTrust looks forward to engaging the NACHA membership to help chart the course for - and navigate clients through - the future of the payments system. We are committed to bringing clients best-in-class payment solutions that help them address the challenges they are facing and ultimately contribute to the success of their organization."
SunTrust involvement with NACHA has included participation on the NACHA board as well as the Payments Institution Board of Regents. Currently, SunTrust is also represented on the NACHA Risk Management Advisory Group.
"As the ACH Network continues to grow in importance to financial institutions and their customers, membership in NACHA gives financial institutions the information and tools they need to succeed in today's highly competitive environment," said Elliott C. McEntee, President and Chief Executive Officer of NACHA. "On behalf of all the members, we welcome SunTrust to NACHA."