MACHA and WACHA Complete Merger
Combination Creates Dynamic Payment Association
Baltimore, Maryland, June 3, 2020
– The Mid-Atlantic Clearing House Association, Inc. (“MACHA”) announced today that its acquisition of Wisconsin Automated Clearing House Association, Inc. (“WACHA”) has been completed. Payment Advisory Resource, a former subsidiary of WACHA, has become a wholly-owned subsidiary of MACHA and will continue to offer audit and consulting services under the combined payment association.
Pursuant to the consummation of the merger, Robert E. Dael has retired as President and Chief Executive Officer of MACHA and Mary Gilmeister, former President of WACHA, has been appointed MACHA’s President and CEO. Both Mr. Dael and Ms. Gilmeister serve on the board of directors of the combined association.
“We are excited about the opportunities this combination provides our members to ensure they will continue to receive cutting-edge services in the payment space,” said Ms. Gilmeister. “We look forward to building on together what the individual associations have developed independently, such that we may develop and offer enhanced services and continue to be a viable resource for our members” added Ms. Gilmeister.
Baker, Donelson, Bearman, Caldwell & Berkowitz, PC served as MACHA’s legal advisor. Reinhart Boerner Van Deuren s.c. served as WACHA’s legal advisor.
MACHA was formed in 1975 and has more than 200 members and with the combined organizations the membership will exceed 500. Contact Mary Gilmeister at 262-345-1245 or 410-859-0090 or email Mary at email@example.com