Peninsula CU’s Jim Morrell Brings Executive Voice to NACHA Board
February 13, 2017
James M. Morrell, President and CEO of Peninsula Credit Union, has been named NACHA Board Vice Chairperson.
In an announcement, the credit union added that Morrell will ensure that”millions of credit union members across the United States have a new voice representing them at the Board officer level.”
The NACHA Board consists of 19 directors representing a diverse set of depository financial institutions of all sizes and types and oversees the governance and administration of NACHA, and addresses topics of strategic significance to the ACH Network.
A key initiative that NACHA leads is Same Day ACH, an industry effort to move payments faster, which was launched last September for ACH credit transactions. Through the end of 2016, Same Day ACH was responsible for more than 13 million credit transactions totaling nearly $17 billion with an average transaction amount of $1,283. This initiative provides new opportunities for Same Day ACH credit union originators to support their members through such use cases as emergency payroll, same-day person-to-person payments, and more.
NACHA President and CEO Janet O. Estep, added that the “NACHA Board officers range from small credit unions to large institutional banks, and all have strong and equal voices at the Board level. Jim’s natural person credit union representation is a highly valued and important voice, and we appreciate his ongoing efforts to successfully evolve and meet today’s ACH Network needs and tomorrow’s innovations with other stakeholders of all types and sizes.”
Troy Stang, President & CEO of your Association applauded Morrell’s appointment, adding that NWCUA is appreciative of all Movement leaders who “serve, connect, and influence at all levels of the financial services system—payments being a key component.”
“We applaud Jim for his leadership and new role as Vice Chair of NACHA, and really want to acknowledge that he is also an important voice at WesPay and on CUNA’s payment subcommittee,” Stang added.