Stanford Federal Credit Union First to Deploy Small Business Online Bill Payment from PSCU Financial ServicesPayLynx™ for Small Business Delivers Attractive FeaturesSt. Petersburg, FL, February 12, 2008 – Stanford Federal Credit Union, of Palo Alto, Calif., is the first credit union to deploy PayLynx™ for Small Business from PSCU Financial Services, the nation’s largest CUSO. The bill payment platform became available in December 2007. The credit union migrated business accounts that were using the consumer PayLynx platform and will roll out the platform to all small business owners on Feb. 1. “Platform installation and account conversions went very smoothly. Initial user feedback confirmed that owners appreciate the convenience of user authority levels and ability to attach invoices as well as the enhanced security offered by the small business bill payment platform,” said Celeste Auger, Product Manager, Member Business Services, Stanford Federal Credit Union. The credit union has 550 small business checking accounts presently but Auger is focused on building core business deposits. "Because of the types of industries and occupations represented by our present membership, we are strategically focused on this low hanging DDA fruit first. A large number of our existing members are self-employed within the Stanford professional community as consultants or officers of high tech start-up companies. Offering a necessary product such as online bill payment for small business gives our members added value.” The credit union’s promotional campaign includes estatements for all online banking users as well as statement inserts and emails. The credit union also launched a quarterly enewsletter with financial tips and information about business products that will be emailed to small business owners. “Being able to offer an online bill payment platform specifically designed for small business owners is an important tool in serving the needs of this profitable member segment,“ said Leslie Reistrup, Director of eServices, PSCU Financial Services. “Our credit union member-owners are eager to implement this platform because it offers the most advanced, small business-friendly features in the marketplace.” PayLynx for Small Business, powered by CheckFree, offers unique functionality including: enhanced accounts payable functionality with extended remittance; authority levels for security and auditing purposes; and e-bills and alerts/reminders. An industry leader in online bill payment, PSCU Financial Services processes 2.6 million consumer bill payments per month and has 500,000 PayLynx subscribers. About Stanford Federal Credit UnionIn 1959 a group of Stanford employees created Stanford Federal Credit Union to serve their banking needs. Today, the credit union has over 46,000 members and over $800 million in assets. It serves the faculty, staff, students, alumni, and volunteers of Stanford University and also serves over 100 local companies that are part of the Stanford Community. For more information, visit www.sfcu.org.About 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 500 member credit unions representing over 11 million cardholder accounts and more than 470,000 online bill payment subscribers. Its Contact Center handles more than 12 million inquiries a year. PSCU Financial Services maintains an Eastern operations center in St. Petersburg, Florida, and a Western operations center based in Phoenix, Arizona. The cooperative’s wholly owned subsidiary, Digital Dialogue, operates two 24/7 call centers in Detroit, Mich., that specialize in member services, new member acquisition, cross-selling and automated lending solutions.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 the leader in the credit union industry, the company offers gateway access to national and regional networks. It also provides full function ATM terminal driving services. For more information, visit the company's Web site at www.pscufs.com.
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