SOURCE: PayCycle, Inc.

July 25, 2005 06:00 ET

BancSource Selects Online Payroll Leader PayCycle to Provide Small Business Payroll

FirstBank NW and MBank Roll Out First Program Offering Easy, Low Cost PayCycle Payroll Services to Small Business Bank Customers

PALO ALTO, CA -- (MARKET WIRE) -- July 25, 2005 -- PayCycle (www.paycycle.com), the leader in on-demand payroll, and BancSource, Inc., a wholly owned subsidiary of the Oregon Bankers Association, (www.banc-source.com), a leading provider of bank services, today announced a business partnership making PayCycle's award-winning, online payroll service available to small business customers and local accountants via community banks. Through this new partnership, BancSource member banks will be able to offer PayCycle® payroll services to their small business customers as a natural extension of their own online banking and cash management services.

Also today BancSource member banks, FirstBank NW Corp. (FBNW) and Mbank, launched the first pilot of the PayCycle payroll service for bank customers. FBNW is a 20-branch regional bank headquartered in Clarkston, Washington. MBank, headquartered in Gresham, operates four branches in the metropolitan Portland, Oregon area.

"Small business bank customers view their local bankers as trusted financial advisors. These small employers look to banks as an important resource for information to help them with the financial components of their business -- with payroll ranking near the top of that list," said Tom Perrick, president and CEO of BancSource. "We selected PayCycle as our payroll partner because of their award-winning ease-of-use and commitment to the highest level of customer satisfaction."

"This partnership is a win-win for all parties involved. For PayCycle, working with local bankers is an ideal way to reach small businesses. For the banks, offering PayCycle payroll services provides another important link to improve the allegiance between small business customers and their local bank," said Jim Heeger, president and CEO of PayCycle.

About BancSource

BancSource, a wholly owned subsidiary of the Oregon Bankers Association, provides banks with superior products and services through partnerships with the finest suppliers to the banking industry. By combining the purchasing power of hundreds of banks, BancSource business partnerships provide an outstanding buying proposition for community and regional banks. Every BancSource business partner must successfully complete a rigorous due-diligence process before being awarded the BancSource endorsement. For more information, please see www.banc-source.com.

About PayCycle

PayCycle is the leader in on-demand payroll, targeting small businesses and the accountants that serve them. PayCycle's mission is to make paper-based payroll obsolete. PayCycle's unique technology platform enables a "do-it-with-you" (DIWY) approach to payroll which guides customers through the entire payroll process from paychecks to W-2s. By integrating with the leading small business accounting packages, including QuickBooks® and Microsoft® Money, PayCycle eliminates the hassle of data re-entry. PayCycle is committed to having the Most Satisfied Customers and is a proud finalist for the 2005 American Business Association's "Stevie" award for "Best Customer Service Organization."

PayCycle is a registered trademark of PayCycle, Inc. QuickBooks is a registered trademark of Intuit, Inc. Microsoft is a registered trademark of Microsoft, Inc. All other product names and trademarks are the property of their respective owner.

Contact Information

  • Contact:
    Julie McHenry
    Communication Insight, LLC
    Email Contact
    650-504-6655

    For BancSource:
    Tom Perrick
    President
    Email Contact
    503-581-3522