PETER YEATRAKAS RECEIVES NACHA’S LIFETIME ACHIEVEMENT AWARD
Former President and CEO of WesPay Honored for 34 Years of Industry Service
LAS VEGAS— May 20, 2008—NACHA—The Electronic Payments Association has announced that
Peter Yeatrakas, president emeritus (retiring June 2008), Western Payments Alliance (WesPay), will
receive its Payments Systems Lifetime Achievement Award at PAYMENTS 2008. Yeatrakas is being
recognized for his long career in and contributions to the ACH Network and electronic payments system.
“Pete Yeatrakas is a visionary who has left his mark on the nation’s payments systems,” said Elliott C.
McEntee, chief executive officer of NACHA—The Electronic Payments Association. “Pete has been a true
industry leader, instrumental in developing some of the key initiatives that make the ACH Network what it
is today. NACHA is pleased to recognize his outstanding work by presenting him with this award.”
Yeatrakas began his career in electronic payments with the Federal Reserve in 1974 as electronic funds
transfer manager of the 12th District (San Francisco Head Office), where he served on the lead team for
the communication and roll out of the Social Security program. For the past 28 years as president and
CEO of WesPay, he has managed the activities that meet the strategic and tactical electronic payment related needs of more than 950 banks, savings and loans and credit unions.
“I am honored to receive this elite award and be recognized by the industry,” said Yeatrakas. “The ACH
Network has evolved into the premier payments channel over the past 34 years, and it has been
rewarding to work with the WesPay members, my regional payment association colleagues, and NACHA
in that evolution.”
Throughout his career, Yeatrakas has been a strong supporter of the regional payment associations and
NACHA, assuming leadership roles at all levels. He has been active in the NACHA rule making process,
council activities, and served on NACHA’s board of directors and executive committee from 1998-1999.
Established in 1996, NACHA's Lifetime Achievement Award recognizes outstanding career achievements
of leaders in the electronic payments industry. The award was last given to Ronald V. Congemi, president
of Star Systems ® (STARsm), a Concord EFS, Inc. subsidiary, in 2002.
NACHA—The Electronic Payments Association
NACHA—The Electronic Payments Association is a not-for-profit association that oversees the
Automated Clearing House (ACH) Network, one of the largest electronic payment networks in the world.
More than 18 billion ACH payments were exchanged in 2007. NACHA is responsible for the
administration, development, and enforcement of the NACHA Operating Rules and sound risk
management practices for the ACH Network. Through its industry councils and forums, NACHA brings
together hundreds of diverse payments system stakeholder organizations to enable the development of
new network services and applications. NACHA represents more than 11,000 financial institutions
through direct membership and 19 regional payments associations. NACHA and its members provide
education, tools, and resources to increase the adoption of ACH payments to benefit businesses,
consumers, and governments. To learn more, visit www.nacha.org and www.electronicpayments.org.
Western Payments Alliance
The Western Payments Alliance (WesPay) facilitates and promotes the growth and best use of electronic
payments through education, information, and advocacy on behalf of its 1,100 clients. As the oldest and
one of the nation’s largest Regional Payment Associations, WesPay works with NACHA - The Electronic
Payments Association to serve as an rule-making body for the ACH network in the western United States.
Seven western states – California, Hawaii, Idaho, Nevada, Oregon, Utah, and part of Washington, as well
as American Samoa, Guam, and the Northern Mariana Islands – constitute WesPay’s service area. The
region represented by WesPay is home to 20 percent of the nation's population and a corresponding
volume of payments. For additional information, please visit www.wespay.org.
Media Contact:
Donna Schwartze
Phone: 314-330-3488
donnaschwartze at kc.rr.com