Federal Reserve Bank of Minneapolis

Financial Services

The Minneapolis Fed provides services to banks, savings and loans and credit unions.

Check Services

On an average day in December 2007 the Minneapolis Fed:

• Processed over 3.4 million items deposited by financial institutions, total value of $3.1 billion
  
• 65% of the deposits, 2.2 million, were deposited electronically.
• Printed and processed 1.1 million Image Replacement Documents (IRD).
• Delivered paper items to over 980 financial institutions.
• Delivered items electronically to over 520 financial institutions.

Cash Services

On a typical day the Minneapolis Fed will:

• Process $78 million of coin and currency.
  (Distribute $42 million, receive $36 million.)
  
• Destroy about $3 million of unfit currency.
  

Automated Clearing House

The Automated Clearing House (ACH) operated by the Federal Reserve System is an electronic exchange of payments or funds between participating institutions (generally for small dollar payments).

In 2007 the ACH:

• Processed over 10.6 billion transactions originated nationwide worth over $18.4 trillion.
• Ninth District financial institutions processed approximately 1 billion payments worth more than $1.1 trillion in 2007.