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NATIONAL CLEARINGHOUSE ASSOCIATION (NCHA) FOUNDING MEMBERS FORMALIZE ORGANIZATION, SET RULES

 NATIONAL CLEARINGHOUSE ASSOCIATION (NCHA) FOUNDING MEMBERS
 FORMALIZE ORGANIZATION, SET RULES
 EXTON, Pa., Sept. 8 /PRNewswire/ -- Members of the National Clearinghouse Association (NCHA) met for the first time recently to formally adopt the association's rules and regulations; elect trustees and officers; form committees; approve operating policies and procedures; and plan for the start of operations scheduled for Sept. 15, 1992.
 The NCHA is a non-profit organization designed to conduct low-cost, national check clearing and settlement through member participation in local clearinghouse associations. Founding members of NCHA include The Huntington National Bank; Barnett Bank; Comerica; First American National Bank; First National Bank of Maryland; First Security Bank; and Fleet Financial Group.
 The NCHA Board of Trustees elected Michael Crowley, vice president of Fleet Services Corporation, as president; Brent Squires, vice president of First Security Service Company, as vice president; and Terry Geer, senior vice president of The Huntington Service Company, as secretary/treasurer. Completing the Board of Trustees were L.P. Massengill, vice president of First American National Bank, and Gary Didier, vice president of Comerica Bank. These trustees represent five of the seven founding members of NCHA. Additional members include Barnett Bank and First National Bank of Maryland.
 Serving as the administrator for NCHA is the Check Exchange System Co. (CHEXS). CHEXS is a partnership of HNB Clearing, Inc. (an affiliate of The Huntington National Bank), Float Control, Inc. (an affiliate of U.S. Check), and Littlewood, Shain & Company (an affiliate of Automated Financial Systems, Inc.). The partnership will act under contract with the NCHA to provide administrative, operational and marketing support for the organization.
 The objective of the Clearinghouse is to help financial institutions reduce the overall cost of check collection. The NCHA members will be able to send and receive checks from across the country. National net settlement through the Federal Reserve will allow each member to settle both incoming and outgoing transactions with just one daily entry to the member's reserve account.
 "The real value of membership is the ability economically to clear all endpoints in a receiving bank's clearinghouse by means of a single cash letter," said Mike Crowley, president of the NCHA. "The membership urged the CHEXS partners to carefully consider long-term economies in establishing the administrative fee, which is the per item price paid by a sending bank to clear a check. I'm pleased that CHEXS has set the administrative fee at .35 cents per check. At this level, members will be able to achieve significant cost reductions, providing a long-term, lower cost method of clearing checks."
 The specialized software, developed by The Huntington Service Company to manage the settlement process, will be tested by four NCHA founding members who will take part in a thirty day initial operation.
 According to John Shain, president of Littlewood, Shain & Company, "Another six banks will be ready to begin clearing checks through the system in early October."
 Information about participation in the NCHA may be directed to Andy Linck at Littlewood, Shain & Company, 215-524-0400.
 The Huntington National Bank is the principal subsidiary of Huntington Bancshares Incorporated (NASDAQ: HBAN), a $13 billion regional bank holding company headquartered in Columbus, Ohio. The company's banking subsidiaries operate 271 offices in Ohio, Florida, Indiana, Kentucky, Michigan, Pennsylvania, and West Virginia. In addition, the company's trust, mortgage, investment banking and automobile finance subsidiaries manage 51 offices in the seven states mentioned as well as Connecticut, Delaware, Illinois, Maryland, Massachusetts, New Jersey, North Carolina, Rhode Island, and Virginia.
 -0- 9/8/92
 /CONTACT: Paula Jurcenko, 614-463-4588, or in Cleveland, Bonnie Kopen, 216-344-6112, both of Huntington National Bank/
 (HBAN) CO: Huntington National Bank ST: Ohio IN: FIN SU:


BM -- CL012 -- 7140 09/08/92 16:09 EDT
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Date:Sep 8, 1992
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