NACHA Announces New Member - Regions Financial Corporation

HERNDON, Va.--(BUSINESS WIRE)--NACHA – The Electronic Payments Association announced Regions Financial Corporation as a direct financial institution member, becoming the fifth new NACHA member in 2007. According to the most recent NACHA Top 50 list, Regions is the nation’s 16th largest originating financial institution and the 7th largest receiving financial institution of ACH payments.

“There are accelerating changes in the payments industry that directly affect our customers, the advice we offer them, and the services we provide”

“There are accelerating changes in the payments industry that directly affect our customers, the advice we offer them, and the services we provide,” said Scott Jashinski, payments strategy manager for Regions. “As one of the nation’s largest full-service providers of consumers and commercial banking services, we view our membership with NACHA as a strategic partnership, one that gives us the opportunity to shape the future of the ACH Network and the payments systems for years to come.”

“Membership in NACHA is important for financial institutions that want to be leaders in the payments industry,” said Elliott C. McEntee, president and chief executive officer of NACHA. “In today’s rapidly evolving payments industry, it’s critical that financial institutions stay abreast of the latest research, trends, and technology. Membership in NACHA helps them do just that. On behalf of NACHA and its members, we welcome Regions Bank to NACHA.”

NACHA now has 45 direct members, consisting of 26 financial institutions, and 19 regional payment associations representing more than 11,000 depository financial institutions across the U.S. The other financial institution members are ABN AMRO Bank, American Express Centurion Bank, Bank of America, BB&T, BMO Capital Markets, Capital One, Citi, Citizens Bank, Commerce Bank, Discover Bank, Fifth Third Bank, JPMorgan Chase, KeyBank, National City, PNC Bank, SunTrust, Synovus Financial, TCF National Bank, The Bank of New York Mellon, US Bank, Wachovia Bank, Washington Mutual, Wells Fargo, and Zions Bancorporation.

NACHA - The Electronic Payments Association

NACHA — The Electronic Payments Association represents more than 11,000 member financial institutions, a network of regional payments associations, and 585 organizations through its industry councils. NACHA manages the development, administration, and governance of the Automated Clearing House (ACH) Network—an efficient, reliable, and secure payments system that facilitates commerce electronically. NACHA serves its members by promulgating the NACHA Operating Rules, managing the ACH Network, promoting the value of electronic payments, and offering tools and resources to facilitate electronic payments. To learn more, visit www.nacha.org and www.electronicpayments.org.

About Regions Financial Corporation

Regions Financial Corporation is a member of the S&P 100 Index and Forbes Magazine's "Platinum 400" list of America's best big companies. With $138 billion in assets, Regions is one of the nation's largest full-service providers of consumer and commercial banking, trust, securities brokerage, mortgage and insurance products and services. Regions serves customers in 16 states across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 2,000 banking offices and nearly 2,600 ATMs. Its investment and securities brokerage, trust and asset management division, Morgan Keegan & Company Inc., provides services from over 400 offices. Additional information about Regions and its full line of products and services can be found at www.regions.com.