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PSCU Financial Services Becomes First in Credit Union Market To Contract for CheckFree’s Web for Small Business

Platform Automates Bill Payment, Invoicing for Small Business Owners

St. Petersburg, FL, May 7, 2007 – PSCU Financial Services, the nation’s largest CUSO (credit union service organization), announced it has signed a contract with CheckFree Corporation (Nasdaq: CKFR) to offer CheckFree Web for Small Business, an innovative electronic bill payment, invoicing and accounts receivable service for small business clients. This new version builds upon the industry-leading CheckFree Web electronic billing and payment service. The cooperative anticipates piloting the solution in August.

CheckFree’s research indicates that small business owners seek financial solutions that save time and allow them to focus on product development, marketing and other activities to grow their business. CheckFree’s new platform was designed with the small business customer in mind and has all the features of CheckFree Web including e-bills, faster payment capabilities, bill reminders and email alerts. In addition, a security enhancement includes multi-tiered authority levels for employees. Other features include: the ability to attach invoice details with payments and consolidate multiple invoices into one vendor payment. A future phase will include invoice creation and delivery to customers via e-mail and an electronic receivable capability that will reconcile customer payments to invoices.

Bill payment services for small businesses targets the 23 million micro-businesses with annual revenue under $1 million, which comprise more that 90 percent of all U.S. businesses. According to CheckFree, and industry research, small business clients present a tremendous opportunity for credit unions since they are generally three times more profitable than a regular member and are willing to spend more money on financial products and services.

According to the Aite Group, a financial services research firm, 40% of small business owners use online banking services and are more likely than consumers to adopt online bill payment and presentment products. Providing small business owners with an electronic billing and payment solution can drive increased revenue streams and offer cross-selling opportunities, while increasing the satisfaction and loyalty.

“We are extremely pleased to be the first to offer this new platform of CheckFree’s Web for Small Business to the credit union market. We believe this platform delivers valuable benefits for small business owners while creating strategic revenue growth opportunities for credit unions,” said Leslie Reistrup, Director of eServices, PSCU Financial Services.

About PSCU Financial Services

As a non-profit cooperative, PSCU Financial Services is owned by more than 500 member credit unions representing over 10 million cardholder accounts and more than 400,000 online bill payment subscribers. Its Contact Center services more than 10 million inquiries a year.

PSCU Financial Services maintains its headquarters and Eastern operations center in St. Petersburg, Florida. The company is also supported by a West Coast operations center based in Phoenix, Arizona. PSCU Financial Services is the nation's largest Credit Union Service Organization (CUSO).

Established in 1977, the company provides a broad array of cost-effective, high quality financial services that include credit, debit, ATM, prepaids, bill payment, lending 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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