World's Largest Credit Union Offers Electronic Billing and Payment Powered by CheckFree
ATLANTA, June 30 /PRNewswire/ -- CheckFree (Nasdaq: CKFR - news) and Navy Federal Credit Union, the world's largest credit union, today announced the availability of online electronic billing and payment (EBP) through the Navy Federal-branded Web Bill Pay service powered by CheckFree. The service became available to Navy Federal's 1.8 million members worldwide in late December.
By using the Navy Federal Web Bill Pay service, members have access to their summary and detailed bill information, 24 hours a day, seven days a week. In addition, Navy Federal members are able to pay their bills with the click of a button. To register and begin receiving and paying their bills electronically, Navy Federal members can visit www.navyfcu.org under ''Web Bill Pay.''
''With our members deployed around the world, Web Bill Pay, a part of Navy Federal Online, is another way to provide them 24 by 7 service,'' said Franklin Myers, senior vice president of Research and Development at Navy Federal Credit Union. ''Web Bill Pay and our other electronic services reinforce Navy Federal's motto of 'We Serve Where You Serve.'''
CheckFree now has contracts with more than 50 of the nation's top 100 billers to present bills via Web sites such as Navy Federal that offer the CheckFree EBP service. These companies include: Ameren (Union Electric), American Electric Power, AT&T, Avista Utilities (Washington Water Power), BellSouth, Boston Edison, Chase Credit Card, Chase Mortgage, Columbia Gas of Ohio, Consumers' Energy, Countrywide Home Loans Inc., Cox Communications, CUNA Mutual Group, Florida Power & Light, GPU Energy, GTE, Hawaiian Electric, HomeSide Lending, Illinois Power, International Billing Services, MCI WorldCom, Nevada Power, Northeast Utilities, Northern Illinois Gas (NICOR), Public Service Company of New Mexico, PGE, Small Business Administration, Southern California Edison, Southern Co., and Total System Services Inc. (TSYS).
''We are pleased to count Navy Federal as part of our growing distribution network for EBP,'' said Lynn Busing, executive vice president of Account Management for CheckFree. ''Credit unions have a long history of providing financial services for consumers; therefore, it is no surprise that industry leaders like Navy Federal are among the first to offer the future of electronic billing and payment to their customers.''
About Navy Federal Credit Union
Headquartered in Vienna, Va., Navy Federal Credit Union, with assets of $11 billion, operates 86 member service centers and 211 ''No Surcharge'' proprietary ATMs around the world. The credit union serves most military and civilian personnel of the Navy and Marine Corps and their families.
About CheckFree
Founded in 1981, CheckFree (www.checkfree.com ), the operating subsidiary of CheckFree Holdings Corporation, is the leading provider of financial electronic commerce services, software and related products. CheckFree designs, develops and markets services that enable nearly three million consumers to receive and pay bills over the Internet or electronically through a variety of bill aggregation points, including banks, brokerage firms, portals and interactive content sites on the Internet, and personal financial management (PFM) software. CheckFree's range of services and products are focused on enabling customers to make electronic payments and collections, automate paper-based recurring financial transactions and conduct secure Internet transactions.
After more than a year of beta testing, CheckFree launched the nation's first fully integrated electronic billing and payment solution, CheckFree E-Bill, in March of 1997. Today, the Company has multi-year contracts with more than 50 of the nation's top billers to provide online billing and payment through the CheckFree distribution network.
SOURCE: CheckFree Corporation
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