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Stanford FCU first to deploy small biz PayLynx service
ST. PETERSBURG, Fla. (2/14/08)--Stanford FCU, Palo Alto, Calif., is the first credit union to use PayLynx for Small Business from PSCU Financial Services, the company announced. The credit union migrated business accounts that were using PayLynx and made the platform available to all small-business owners Feb. 1. “Platform installation and account conversions went very smoothly,” said Celeste Auger, Stanford FCU product manager. Stanford FCU has 550 small-business checking accounts, but Auger said she is hoping to build business deposits. The credit union is promoting deposits through e-statements, statement inserts and e-mails. It also launched a quarterly newsletter with financial tips and information about business products. PayLynx, powered by CheckFree, offers accounts payable functionality, authority levels for security and auditing, and e-bills and alerts. PSCU Financial Services has 500,000 PayLynx subscribers. Stanford FCU has more than $800 million in assets.


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