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InfoSight Spotlight: Card and ACH payments continue to increase

According to the latest edition of the InfoSight newsletter, the Federal Reserve Board announced recently that the growth of payments using debit and credit cards and the ACH system continued to accelerate from 2015 to 2018, while check payments continued their long-run decline.

The 2019 Federal Reserve Payments Study shows that the growth rate of core noncash payments, defined for the report as debit card, credit card, ACH, and check payments, was 6.7 percent per year between 2015 and 2018. During the prior three-year survey period, core noncash payments grew at a rate of 5.1 percent per year.

Read the full InfoSight newsletter here.

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The League of Southeastern Credit Unions & Affiliates represents nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

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