CU Business Capital, LLC and Postilion, a leading global provider of integrated solutions for self-service banking and payment processing and a division of S1 Corporation (Nasdaq: SONE), today announced the signing of Lafayette Federal Credit Union based in Kensington, MD.
Lafayette Federal Credit Union is leveraging the business relationship established last year between CU Business Capital and Postilion to deploy online member business services.
Aite Group, an independent research and advisory firm, "estimates that credit unions currently hold only a nine percent share of total small business customers, but there are opportunities for market shifts, especially in the current environment." Credit unions that provide a full suite of member business services are well positioned to expand their online financial services and build member loyalty, ultimately improving overall profitability. The solutions provided by Postilion and CU Business Capital, such as Postilion's Business Internet Banking and CUBC's remote deposit capture, help credit unions seize this opportunity and expand membership and asset growth. Postilion Business Internet Banking provides credit unions with a comprehensive member business services solution that empowers member businesses to manage their cash flow online. Members can manage bill payments, ACH origination and receipts, payroll services, wire transfers, and funds transfers, all via the Internet.
"As a credit union that caters to businesses, we need to deliver robust services that enable our members to oversee all aspects of their business," said B. John Farmakides, President and CEO, Lafayette Federal Credit Union. "Postilion Business Internet Banking allows us to deliver an application that ensures our business members have an exceptional online experience. Furthermore, we are able to leverage our relationship with CU Business Capital to deliver a complete suite of business services to our members."
"We are pleased that Lafayette Federal Credit Union has chosen Postilion to deliver business Internet banking," said Pierre Naude, President, Postilion Banking. "Offering a complete member business services package is an important differentiator for credit unions, and enables them to develop new revenue streams. Through our partnership with CU Business Capital, credit unions can quickly bring to market an innovative online banking solution that empowers business members to gain greater control over their finances."