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Northwest FCU Selects Online Resourcesa? Banking and Payments

^{Published on 2011-06-13 06:10:45 - Market Wire}
 

CHANTILLY, Va.--([ BUSINESS WIRE ])--Online Resources Corporation (Nasdaq: ORCC), a leading provider of online financial services, and $2 billion asset Northwest Federal Credit Union today announced that they signed a multi-year agreement for advanced online banking and bill payment solutions. Northwest FCU will convert to Online Resourcesa™ solutions in early 2012.

"Our goal is to provide our members with an exceptional banking experience at every interaction"

Virginia-based Northwest FCU selected Online Resourcesa™ Architect retail banking software solution to provide its more than 105,000 members with a highly customized, extendable online banking experience. The software includes advanced functionality such as personal financial management, entitlements, small business banking, one-to-one marketing and social media integration. The Credit Union will also be able to control the administration, configuration and end-user experience of the software through a sophisticated client toolbox.

The Credit Union also selected hosted bill payment, which is backed by Online Resourcesa™ proprietary payments network that directly links financial institutions with thousands of billers to enable higher electronic rates, faster payment speed and a consistent payment process. The service also includes e-bills and expedited payments for guaranteed same day posting.

aOur goal is to provide our members with an exceptional banking experience at every interaction,a said Gerrianne D. Burks, president and chief executive officer for Northwest Federal Credit Union. aThrough the enhancement of our online channel, we can offer our members customized, advanced online banking and bill payment capabilities. We selected Online Resources because they offer the perfect combination of flexible deployment options, exceptional integration capabilities and high quality, high value services that we believe will take our membersa™ online experience to the next level.a

aWe are very pleased to work with Northwest Federal Credit Union to further differentiate their online channel,a said Eric M. Labiak, chief sales officer for Online Resources. aWith configuration tools for interface customization, integrated bill payment and powerful marketing tools, Northwest can provide their members everything they need to quickly and conveniently manage their finances. The result is a superior member experience.a

About Northwest Federal Credit Union

Northwest Federal Credit Union is a full-service financial institution ranking among the largest credit unions in Virginia and in the top 100 credit unions in the nation. Established in 1947 and headquartered in Herndon, Virginia, Northwest Federal is dedicated to providing financial services and education to its members and the community. The Credit Union currently serves more than 100,000 members and has assets in excess of $2 billion. For more information, visit [ www.nwfcu.org ].

About Online Resources

Online Resources (NASDAQ: ORCC) powers financial interactions between millions of consumers and the companya™s financial institution and biller clients. Backed by its proprietary payments gateway that links banks directly with billers, the company provides web and phone-based financial services, electronic payments and marketing services to drive consumer adoption. Founded in 1989, Online Resources is the largest financial technology provider dedicated to the online channel. For more information, visit [ www.orcc.com ].

Online Resources Corporation

This news release containsforward-looking statements based on Online Resources Corporation management's current expectations and beliefs and a number of assumptions concerning future events made with information that is currently available. The words "will," "would," "may," "should," "estimate," "project," "forecast," "intend," "expect," "believe," "target," "designed," "plan," and similar expressions are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements, which are not a guarantee of any results or performance and are subject to a number of known and unknown risks, uncertainties and other factors which could cause actual performance or results to differ materially and adversely from any results or performance expressed or implied by such forward-looking statements. Certain factors that might cause such a difference include, but are not limited to: a history of losses and anticipation of future losses; potential fluctuations in operating results; dependence on the marketing efforts of third parties; potential loss of one or more material clients; potential need for additional capital; potential inability to prevent systems failures and security breaches; potential inability to expand certain services and products in the event of a substantial increase in demand for such services and products; competitive pressures; ability or inability to attract and retain skilled personnel; reliance on patents and other intellectual property; potential change in the rate of user adoption of certain products and services; exposure to consolidation in the financial services industry; and government regulatory developments. For a more detailed description of the factors that could cause such a difference, please refer to our latest filings with the Securities and Exchange Commission, including the information under the heading "Risk Factors" in our Annual Report on Form 10-K. We assume no obligation to update or supplement any forward-looking statements.

Online Resources and the Online Resources logo are trademarks of Online Resources Corp. Other company and product names may be trademarks of their respective owners.