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PARDA Federal Credit Union and TEG Federal Credit Union Leverage CU Business Capital Alliance with Postilion to Deploy Online Member Business Services Solutions
Sep 18, 2007 (08:09 AM EDT)
MIRAMAR, Fla. and ATLANTA, Sept. 18 /PRNewswire-FirstCall/ -- CU Business Capital, LLC and Postilion, a division of S1 Corporation and a leading global provider of integrated solutions for self-service banking and payment processing, announce the signing of two new credit union clients: PARDA Federal Credit Union based in Rochester, Michigan, and TEG Federal Credit Union based in Poughkeepsie, New York. Both credit unions are leveraging the marketing relationship established earlier this year between CU Business Capital and Postilion to deploy online member business services.
The small business market represents a tremendous opportunity for credit unions, with 25.8 million small businesses in the US accounting for 60 to 80 percent of net new jobs over the past decade, according to the US Small Business Administration. Credit unions are well poised to expand their services and build member loyalty as well as improve overall profitability by providing member business services. Postilion and CU Business Capital together provide a complete business services program to help credit unions expand membership and asset growth with solutions like Postilion's online Member Business Services solution, and CUBC's remote deposit capture.
"As a credit union we know that providing services to our business members is a vital piece of our growth and profitability strategy," said Ron Flaherty, CFO, TEG Federal Credit Union. "The Postilion Online Member Business Services solution enables us to deliver a robust application for business members to manage all aspects of their cash flow online, and further leverage our relationship with CU Business Capital to truly deliver a complete suite of business services."
"We are very pleased that TEG Federal Credit Union and PARDA Federal Credit Union have both chosen Postilion to deliver online Member Business Services to their members," said Pierre Naude, General Manager, Postilion Americas. "Our partnership with CU Business Capital is helping a number of credit unions seize the opportunity to deliver more robust business services and truly tap into this market."
Postilion provides credit unions a comprehensive member business services solution through the Internet, which includes features and functionality that businesses can utilize to manage their cash flow online, including bill payment, ACH origination and receipts, payroll services, wire transfers and funds transfers.
About TEG Federal Credit Union
Founded in 1969, TEG is a member-owned, not-for-profit financial cooperative association. As such, TEG offers a broad range of personal financial products and services and is committed to satisfying the personal financial needs of its members in a professional and courteous manner. Because TEG is a cooperative financial association, the needs of its members are always the first concern.
About PARDA Federal Credit Union
PARDA Federal Credit Union proudly serves more than 24,000 members and maintains assets of more than $180 million. Through educational programs, community involvement, and full range of financial services for people of all means, PARDA ardently supports the credit union philosophy of people helping people.
About CU Business Capital, LLC
CUBC is a national CUSO focused on helping credit unions offer a full suite of business services including business lending, business deposits, cash management, remote capture, merchant services, business debit and credit cards, training, and consulting. These services are supported with "best-in- class" technology, operational procedures, training, and policies. Its staff is comprised of experienced business lending and cash management professionals, who work with leading industry vendors as strategic partners. CUBC's approach incorporates existing core systems in making decisions to offer business services. More information is available at www.cubusinesscapital.com
Postilion, a division of S1 Corporation www.postilion.com , is a leading provider of integrated solutions for self-service banking and payment processing. Our offices, on five continents, serve customers in more than 50 countries. The Postilion product drives self-service financial transactions and payments, including advanced transactions such as prepay, through Internet access points, ATMs, POS terminals, and phones. This multi-channel architecture -- built on open systems -- provides consolidated management information, card management, 3DES and EMV enablement, and loyalty software solutions. At the forefront of compliance with new regulations and security enhancements, such as application validation for Visa's Cardholder Information Security Program Payment Application Best Practices (CISP PABP), Postilion can help customers achieve compliance with the latest data security standards developed by the payment card industry (PCI DSS). More information is available at .
About S1 Corporation
S1 Corporation delivers customer interaction software for financial and payment services and offers unique solution sets for financial institutions, retailers, and processors. S1 employs over 1,400 people in operations throughout North America, Europe and Middle East, Africa, and Asia-Pacific regions. Worldwide, more than 3,000 customers use S1 software solutions, which are comprised of applications that address virtually every market segment and delivery channel. S1 partners with best-in-class organizations to provide flexible and extensible software solutions for its customers. Additional information about S1 solutions is available at www.s1.com www.postilion.com www.S1enterprise.com www.fsb-solutions.com , , , and .
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act. These statements include statements with respect to our financial condition, results of operations and business. The words "believes," "expects," "may," "will," "should," "projects," "contemplates," "anticipates," "forecasts," "intends" or similar terminology identify forward-looking statements. These statements are based on our beliefs as well as assumptions made using information currently available to us. Because these statements reflect our current views concerning future events, they involve risks, uncertainties and assumptions. Therefore, actual results may differ significantly from the results discussed in the forward-looking statements. The risk factors included in our reports filed with the Securities and Exchange Commission (and available on our web site at www.s1.com www.sec.gov or the SEC's web site at ) provide examples of risks, uncertainties and events that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements. Except as provided by law, we undertake no obligation to update any forward-looking statement.
CONTACT: Leisha Richardson of Postilion, +1-512-336-3028, email@example.com; Caroline Traylor of Porter Novelli,+1-512-241-2239, ; or Gabi Villegas of CUBusiness Capital, +1-954-704-5436,
Web site: http://www.s1.com/ http://www.postilion.com/ http://www.cubusinesscapital.com/ http://www.S1enterprise.com/ http://www.fsb-solutions.com/