PSCU Financial Services’ Online Bill Payment Subscribers Jumps 38 Percent in 2008PayLynx™ Platform Ends Record Year with 783,000 SubscribersSt. Petersburg, FL, Feb. 9, 2009 – The number of PSCU Financial Services’ online bill payment subscribers jumped 38 percent in 2008. The cooperative’s popular PayLynx™ platform ended the year with 783,000 subscribers, according to the nation’s largest credit union service organization (CUSO). PSCU Financial Services signed new agreements with 22 credit unions in 2008, including Keesler Federal Credit Union, of Biloxi, Miss. Keesler FCU executives decided to switch platforms because PayLynx offered greater ease of use and added functionality at a lower cost. “When we compared systems, PayLynx offered expanded capabilities, better performance and is easier to use than our current system. One of the biggest advantages for our members is the ability for funds to be withdrawn on the day the payment is due,” said John Goff, Senior Vice President, Keesler Federal Credit Union. “In addition, we wanted to deliver online bill payment free to our members and the cooperative’s affordable pricing structure allowed us to do this.” Eight of the new agreements are with credit unions that are offering online bill payment for the first time. “Credit unions that evaluate online bill payment platforms are discovering that PayLynx delivers more than member-pleasing features and an attractive pricing structure. We also add the industry’s strongest fraud protection technology and our award-winning Contact Center services,” said David J. Serlo, President and CEO, PSCU Financial Services. In addition to providing online bill payment for consumers, PSCU Financial Services also offers PayLynx for Small Business with special features for small business owners including: enhanced accounts payable functionality with extended remittance; authority levels for security and auditing purposes; and e-bills and alerts/reminders. More than 470 financial institutions currently deploy PayLynx for their online bill payment service. PSCU Financial ServicesBased in St. Petersburg, Florida, PSCU Financial Services is the nation's largest credit union service organization (CUSO) and serves more than 1,100 financial institutions nationwide. As a non-profit cooperative, the company is owned by more than 600 member credit unions representing over 13 million accounts and subscribers. Its Contact Centers handle more than 14 million inquiries a year.PSCU Financial Services offers 24/7 member support through four Contact Centers: its Eastern operations center in St. Petersburg, Fla.; a Western operations center based in Phoenix, Ariz.; and two call centers in Detroit, Mich. These Contact Centers perform member servicing and new member acquisition, cross-selling and automated lending solutions as well as support for debit/credit/prepaid cardholders and online bill payment subscribers. Established in 1977, the company provides a broad array of cost-effective, high quality financial services that include credit, debit, ATM, prepaid, bill payment and contact center solutions. PSCU Financial Services uniquely offers its members a full range of processing options, any combination from full service to in-house pass through processing for credit, debit and ATM transactions. As a leader in the credit union movement, the company offers gateway access to national and regional networks. It also provides full function ATM terminal driving services. For more information, visit PSCU Financial Services’ website at www.pscufs.com.
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