OSU Federal Selects Goldleaf Technologies' ACH Web Client; Credit Union Looks to Enhance ACH Business Member Services

Business Wire, June 5, 2003

Business Editors

BRENTWOOD, Tenn.--(BUSINESS WIRE)--June 5, 2003

Goldleaf Technologies Inc., a leading provider of ACH and Web site solutions to credit unions and community and regional financial institutions, announced that OSU Federal, a $300 million credit union, has purchased Goldleaf's ACH Web Client product, a browser-based, ACH transaction management solution.

The credit union has had an ACH solution in place since 1993, but it was not robust enough to support the credit union's objective of offering an ACH solution to business members, said Celine Vallet, OSU Federal payment systems manager.

"With Goldleaf we will be able to offer ACH origination as a product for our business clients. The ACH Web Client will help us deepen relationships with our business members by offering them the ability to do payroll ACH and any other ACH needs they may have," Vallet said.

"We created this ACH origination solution with customers like OSU Federal in mind. The solution melds complete ACH automation, reporting features and secure 24-hour online access for business owners," said David Peterson, executive vice president of Goldleaf Technologies. "Likewise, institutions do not have to be ODFIs (Originating Depository Financial Institution) to leverage the benefits of the system. Like many of the credit unions we serve, OSU Federal originates a high volume of ACH transactions," Peterson said.

"We were looking for a product that was user-friendly and that would help us streamline our processes, but most importantly we require great customer support," Vallet said. "With 4,000 ACH transactions a month, we do not want any down time."

Marcia Haley, OSU Federal payment systems representative, explained that with their previous ACH vendor there was more than one occasion when the software went down. When she tried to call customer support, often times they would already be closed for the day.

"I've been impressed with this product since I first found out about it," Haley said. She said she especially likes that it is a Web-based solution, which eliminates having to perform timely onsite software installations and updates.

Haley said that the ACH Web Client is user friendly. She explained that the software was so easy to understand that they were able to start using it by referring to the accompanying documentation.

Because of the ease of use of the product, Vallet said the credit union is going to delay scheduling the training session they purchased until their business members can take advantage of it. She said she is impressed that Goldleaf is willing to customize training to meet the credit union's needs.

Goldleaf Technologies currently supplies ACH solutions to more than 100 credit unions. "We are committed to providing cost effective ACH solutions to credit unions and other community financial institutions that give them a competitive edge. It is our goal to become strategic partners with our customers," said Paul McCulloch, president of Goldleaf Technologies.

About OSU Federal

OSU Federal, a member-owned, not for profit credit union, established in 1954, serves anyone who lives, works or goes to school in Benton, Lincoln, Linn, or Polk counties. The 37,500 member organization is headquartered in Corvallis, Ore., which is located in the Willamette Valley, about 85 miles south of Portland.

For additional information, visit the OSU Federal Web site at www.osufederal.com.

About Goldleaf Technologies Inc.

Brentwood, Tenn.-based Goldleaf Technologies Inc. is a privately held financial services company, offering ACH origination and processing solutions, as well as highly customized dynamic Web sites for financial institutions and other organizations. Goldleaf uses innovative marketing strategies and software solutions to help financial institutions retain valuable customers, add new customers, increase core deposits, and create recurring fee income.

Goldleaf's ACH solutions, built on both Windows and browser-based technology, are used by financial institutions and clearinghouse organizations throughout North America. The company also specializes in custom Web site creation and secure hosting for financial institutions, winning national awards and recognition for function and form. Goldleaf has a proven track record with more than 1,800 financial institutions and strong alliances with the world's top core technology providers and endorsements from many state banking associations.

For additional information about Goldleaf Technologies call 877.999.2262 or visit its Web site at www.goldleaf.com.