FedNow® Service

NMFCU Joins the FedNow® Service, Advancing U.S. Payment System

NMFCU announced it is live on the Federal Reserve’s instant payment rail, the FedNow Service. NMFCU is now able to receive instant payments from other participating institutions or support payment activity through settlement.

Through the FedNow Service, NMFCU is positioned to provide consumers the option to move funds instantly, offering choice for receiving payments (sending capabilities will be available in the near future) to manage money, make bill payments and avoid late fees.

“As a FedNow Service participant, NMFCU demonstrates dedication to advancing the U.S. payments infrastructure,” said Nick Stanescu, executive vice president and chief executive of the FedNow Service. “We count on financial institutions to help build the FedNow Service network and make instant payments widely available to consumers and businesses across the country.”

To participate in the FedNow Service, NMFCU completed a multi-step customer testing and certification program. The FedNow Service network includes a diverse range of financial institutions and service providers across the U.S.

Financial institutions and service providers will continue to onboard throughout 2025 and beyond, helping the FedNow Service build a strong instant payments infrastructure across the U.S.

About the FedNow Service
The Federal Reserve Banks developed the FedNow Service to facilitate nationwide reach of instant payment services by financial institutions — regardless of size or geographic location — around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals can send and receive instant payments at any time of day, and recipients have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Access is provided through the Federal Reserve’s FedLine® network, which serves more than 9,000 financial institutions directly or through their agents. For more information, visit FedNowExplorer.org