Key Takeaways
- 1,949 financial institutions were live on FedNow as of October 19, 2026, according to the Federal Reserve: 1,237 banks and 638 credit unions matched to FDIC and NCUA records.
- That is 29% of FDIC-insured banks and 15% of credit unions, by FDIC and NCUA counts.
- Adoption peaks among mid-sized banks: by FDIC counts, 46% of banks with $1 billion to $10 billion in assets are live, against 28% of banks with $100 billion or more and 7% of banks under $100 million.
- 74 participants, such as corporate credit unions and government agencies, are neither FDIC banks nor NCUA credit unions.
1,949 financial institutions were live on the FedNow Service as of October 19, 2026, according to the Federal Reserve. That is 29% of FDIC-insured banks and 15% of credit unions. Adoption peaks among mid-sized banks: by FDIC counts, 46% of banks with $1 billion to $10 billion in assets are live, against 28% of banks with $100 billion or more and 7% of banks under $100 million.
The Federal Reserve publishes the list of participants by name, city and state, without their size. This page matches each to its record at the FDIC or the NCUA, and 96% of the list matched, to measure adoption against every bank and credit union in the country.
Adoption by size
Each band counts every active FDIC-insured bank and every federally insured credit union of that size, and how many of them are on the Federal Reserve's list.
| Assets | Banks | Banks on FedNow | Share of banks | Credit unions | Credit unions on FedNow | Share of credit unions | Sources |
|---|---|---|---|---|---|---|---|
| Under $100 million | 539 | 37 | 7% | 2,438 | 101 | 4% | Federal Reserve, FDIC, NCUA |
| $100 million to $1 billion | 2,634 | 729 | 28% | 1,305 | 307 | 24% | Federal Reserve, FDIC, NCUA |
| $1 billion to $10 billion | 884 | 411 | 46% | 446 | 195 | 44% | Federal Reserve, FDIC, NCUA |
| $10 billion to $100 billion | 128 | 51 | 40% | 24 | 12 | 50% | Federal Reserve, FDIC, NCUA |
| $100 billion and over | 32 | 9 | 28% | 1 | 1 | 100% | Federal Reserve, FDIC, NCUA |
Download this table (CSV), free. The full dataset, every listed participant with the FDIC or NCUA record it matched and the rule that matched it, is one email away.
The 25 largest institutions on FedNow
| Rank | Institution | Type | State | Assets | Record |
|---|---|---|---|---|---|
| 1 | JPMorgan Chase Bank | Bank | OH | $4.09 trillion | FDIC |
| 2 | Citibank | Bank | SD | $1.98 trillion | FDIC |
| 3 | Wells Fargo Bank | Bank | SD | $1.91 trillion | FDIC |
| 4 | U.S. Bank | Bank | OH | $706 billion | FDIC |
| 5 | Capital One | Bank | VA | $662 billion | FDIC |
| 6 | PNC Bank | Bank | DE | $610 billion | FDIC |
| 7 | The Bank of New York Mellon | Bank | NY | $425 billion | FDIC |
| 8 | First-Citizens Bank & Trust Company | Bank | NC | $236 billion | FDIC |
| 9 | Manufacturers and Traders Trust Company | Bank | NY | $219 billion | FDIC |
| 10 | Navy Federal | Credit union | VA | $204 billion | NCUA |
| 11 | Flagstar Bank | Bank | NY | $87.7 billion | FDIC |
| 12 | East West Bank | Bank | CA | $84.3 billion | FDIC |
| 13 | UMB Bank | Bank | MO | $71.9 billion | FDIC |
| 14 | SouthState Bank | Bank | FL | $68.8 billion | FDIC |
| 15 | Columbia Bank | Bank | OR | $65.4 billion | FDIC |
| 16 | SoFi Bank | Bank | UT | $56.8 billion | FDIC |
| 17 | Frost Bank | Bank | TX | $54.0 billion | FDIC |
| 18 | Associated Bank | Bank | WI | $51.8 billion | FDIC |
| 19 | First National Bank of Pennsylvania | Bank | PA | $50.8 billion | FDIC |
| 20 | Prosperity Bank | Bank | TX | $43.9 billion | FDIC |
| 21 | MidFirst Bank | Bank | OK | $42.8 billion | FDIC |
| 22 | SchoolsFirst | Credit union | CA | $37.2 billion | NCUA |
| 23 | Hancock Whitney Bank | Bank | MS | $36.3 billion | FDIC |
| 24 | Commerce Bank | Bank | MO | $35.0 billion | FDIC |
| 25 | BankUnited | Bank | FL | $34.9 billion | FDIC |
What the list says
- 1,237 of the 4,217 FDIC-insured banks and 638 of the 4,214 credit unions in the FDIC and NCUA data are on the Federal Reserve's list.
- Several of the largest banks are not on the list, which is why the top band trails the middle ones. Banks on FedNow still hold 52% of all bank assets, so a payment sent over FedNow can reach accounts at institutions holding that share of the banking system.
- 74 participants are not FDIC banks or NCUA credit unions, or are listed under a name too unlike their charter to match. They include corporate credit unions, which serve other credit unions, a state-owned bank and federal agencies.
What this means for technology buyers
Joining FedNow means running payments in real time, around the clock, with fraud checks that have seconds to work. These guides compare the options:
- Real-time payments platforms for financial institutions: connecting to FedNow and RTP.
- Core banking systems in the cloud: cores that post instant payments as they arrive.
- Mobile banking apps for regional banks: where customers see and send instant payments.
Mapping the business? The Payments Industry Capability Model sets out what a payments business does, and the Payments Value Streams show how that work runs end to end.
More from Finantrix Atlas
How this was built
The Federal Reserve's list of FedNow participants is as of October 19, 2026. Each listing was matched to an active FDIC-insured bank (FDIC data as of June 30, 2026) or a federally insured credit union (NCUA data for 2026-06). Matching tries five rules in order: the same name in the same state; the same name, state and city; a name the list cut short, as a prefix in the same state; the same first word in the same city; and, for large banks only, the same name anywhere in the country. A rule that finds more than one candidate finds none. The rule behind every match is in the dataset.
Limits
- Rates are slight undercounts. A participant that matches no record is left out of the rates, so the true share live is a little higher than shown.
- Live is not the same as active. The list shows institutions that can use FedNow. Some can only receive payments, and the list does not say how much each one sends.
- Matched by name. Matching relies on names and places; the rule behind each match is in the dataset so any one can be checked.
- Agents and processors are separate. Many smaller institutions connect through a correspondent or a service provider. The Federal Reserve lists those separately, and this page does not count them.
Cite this
Free to quote, cite and republish, including the chart, with credit to Finantrix Atlas and a link to this page.
1,949 financial institutions were live on FedNow as of October 19, 2026, 29% of FDIC-insured banks and 15% of credit unions, according to a Finantrix Atlas analysis of Federal Reserve, FDIC and NCUA data.
Suggested citation: Finantrix Atlas, "FedNow Participants: Which Banks and Credit Unions Are Live," as of October 19, 2026, from Federal Reserve, FDIC and NCUA data. https://www.finantrix.com/articles/fednow-participants
Embed the chart:
<a href="https://www.finantrix.com/articles/fednow-participants"><img src="https://www.finantrix.com/atlas/fednow-participants.png" alt="FedNow adoption by bank size, from Finantrix Atlas"></a>
<p>Chart: <a href="https://www.finantrix.com/articles/fednow-participants">Finantrix Atlas</a>, from Federal Reserve, FDIC and NCUA data.</p>
Frequently asked questions
Q: How many banks are on FedNow? A: According to the Federal Reserve's list, 1,949 financial institutions were live as of October 19, 2026, of them 1,237 FDIC-insured banks and 638 credit unions.
Q: What share of US banks use FedNow? A: 29% of FDIC-insured banks are on the Federal Reserve's list, by FDIC counts, and 15% of credit unions, by NCUA counts.
Q: Which is the largest institution on FedNow? A: By assets, JPMorgan Chase Bank, according to FDIC and NCUA records.
Download the data
The 5 rows on this page (CSV), free. The full dataset has all 1,949 rows, as of October 19, 2026; we email you a link.
Frequently Asked Questions
How many banks are on FedNow?
According to the Federal Reserve's list, 1,949 financial institutions were live as of October 19, 2026, of them 1,237 FDIC-insured banks and 638 credit unions.
What share of US banks use FedNow?
29% of FDIC-insured banks are on the Federal Reserve's list, by FDIC counts, and 15% of credit unions, by NCUA counts.
Which is the largest institution on FedNow?
By assets, JPMorgan Chase Bank, according to FDIC and NCUA records.