National Automated Clearinghouse Association - NACHA

A non-profit membership association charged with overseeing the Automated Clearing House (ACH) system, which operates the largest electronic payment network in the world.

Most of NACHA's 10,000+ members are depositary institutions and regional payment associations. Through its supervisory and rule-making functions, NACHA provides the legal foundation for electronic payment systems to operate effectively, while working to update technologies and create new payment systems.

Although not a government agency, NACHA works closely with all interested government agencies (including the Federal Reserve, the state banking authorities and the Treasury) to ensure the integrity of the electronic payments systems used by banking and other depositary institutions.

NACHA not only develops rules and codes of business practices, but it is involved in the development of new applications. It also institutes and monitors quality- and risk-management controls. Over 18 billion ACH payments were processed in 2007.