CU Business Capital, LLC and Postilion, a division of S1 Corporation (Nasdaq: SONE) 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."