DALLAS - The Electronic Check Clearing House Organization has added seven member banks, including its first in the associate category, according to J.D. Carreker, the payment-system consultant who is executive director of Eccho.

The additions bring total membership in the three-year-old group, which is developing an electronic presentment method for checks, to 57.

Norwest Bank of Minneapolis, Key Bank of Albany, N.Y., Shawmut Bank of Conn., and Barnett Bank of Jacksonville, Fla., became full members.

Barnett Bank of South Florida and Shawmut Bank of Boston joined as affiliate members, which are affiliated with full members.

Bank of Hawaii is the associate member, a category created for mid-size check-clearing banks. They have a limited number of check-presentment locations and pay a one-time fee of $10,000 for each sending or receiving partner. Full members pay $75,000 for an unlimited number of locations.

Eccho also announced that Herb Bundens, managing director of Bankers Trust Co., New York, replaced former Bankers Trust executive vice president David Sias n the Eccho board.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.