FOR IMMEDIATE RELEASE
Contact:
Colleen Morrison
NACHA
703-561-3925
cmorrison@nacha.org
Contact:
Marlene Greenberg, Corporate Communications
CardWorks, Inc.
516-576-0404 Ext.2278
marlene.greenberg@cardworks.com
NACHA Welcomes Merrick Bank as Direct Financial Institution Member
Nation’s 40th Largest Originator Joins Industry Leaders as NACHA Member
HERNDON, Va., October 12, 2010 — Merrick Bank, a subsidiary of CardWorks, Inc. and the nation’s 40th
largest ACH originator, has joined NACHA — The Electronic Payments Association® as a direct financial
institution member. Merrick Bank is a premier issuer and acquirer of MasterCard and VISA credit cards
and is committed to providing solution-based products and services to fit the needs of consumers
nationwide.
“As a top 50 ACH-originating financial institution, we believe that direct NACHA membership was a
natural progression for us,” said Merrick’s President, Richard Urrutia. “Membership enables us to take a
more active role at the national level, and working with NACHA, we look forward to participating in
strategic discussions on the ACH Network.”
NACHA Members realize significant benefits, including opportunities to vote on the NACHA Operating
Rules, nominate individuals for the NACHA Board of Directors, and take leadership roles on NACHA task
forces, committees, and work groups. Direct financial institution members of NACHA gain up-to-date
information on strategic industry issues and increase their financial institution's visibility and exposure in
the highly competitive electronic payments market. Members expand their market relationships as they
engage in a collaborative approach to understand and address the challenges and opportunities facing
the industry today.
“NACHA membership ensures that financial institutions remain abreast of developments in ACH
payments,” said NACHA President and CEO Janet O. Estep. “In joining NACHA, Merrick Bank will be
able to provide direct input on strategic industry innovations and emerging issues, as well as having a
first-hand look at the information and services that will address today’s changing payments landscape.
We welcome Merrick Bank to the NACHA family.”
NACHA now has 45 direct members, consisting of 27 financial institutions and 18 regional payment
associations (RPAs). Collectively this group represents more than 11,000 depository financial institutions.
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NACHA—The Electronic Payments Association
NACHA supports the growth of the ACH Network by managing its development, administration, and
governance. The ACH Network facilitates global commerce by serving as a safe, efficient, ubiquitous, and
high-quality electronic payment system. NACHA represents nearly 11,000 financial institutions through 18
regional payments associations and direct membership. Through its industry councils and forums,
NACHA brings together payments system stakeholder organizations to encourage the efficient utilization
of the ACH Network and develop new ways to use the Network to benefit its diverse set of participants.
To learn more, visit www.nacha.org, www.electronicpayments.org and www.payitgreen.org.
Merrick Bank
Merrick Bank, a subsidiary of CardWorks, Inc., is an FDIC insured Industrial Bank founded in 1997 and
based in South Jordan, Utah. Merrick is a top-25 issuer of VISA and MasterCard credit cards, and lends
nationally to consumers purchasing boats and recreational vehicles. Merrick is also a leading Acquirer of
VISA and MasterCard transactions.
CardWorks, Inc.
CardWorks, Inc. is the parent company of Merrick Bank. CardWorks provides financial institutions,
retailers, non-traditional card issuers, ISOs and merchants in the U.S. and Canada with a full range of
world-class servicing and support solutions. CardWorks provides services for banks, financial guarantors,
credit card issuers, independent sales organizations and merchants that enable them to economically
pursue their own goals and objectives while meeting all service requirements.