Co-operative Payroll Solutions

CO-OPERATIVE PAYROLL SOLUTIONS POSTS RECORD GROWTH
-- Recent Success Attributed to Competitor Sale of Payroll Service and Growing Number of Credit Union Customers --

WINSTON-SALEM, N.C. (May 6, 2010) – Co-operative Payroll Solutions LLC (CPS), a full service payroll processing provider, enjoyed record growth in early 2010, largely due to a competitor's sale of its payroll service line and growing number of credit union customers around the country.

In the first four months of this year, CPS added 59 new clients, 57 of them from a former competitor. CPS credits its use and knowledge of Evolution software, the same used by this former competitor, to its rapidly expanding client roster that has nearly doubled in the past year alone.

“We heard this company's payroll customers were accustomed to the same Evolution software we use, so we launched an advertising campaign letting them know they had an option to just switch providers, not systems,” said Belinda Wilson, Managing Director of Co-operative Payroll. “Based on our number of new accounts, they got the message.”

Since its founding four years ago in 2006, CPS has attracted payroll clients from all over the region and country ranging from non profits and manufacturers to 35 credit unions including Allegacy.

“Since migrating HR and payroll over to CPS, we have experienced a significant savings in all costs related to payroll processing and software fees,” said Diane Kessler, payroll and benefits administrator for Oregon-based MaPS Credit Union. “Above all, because of the ‘real time’ entry and process for payroll, time has been the biggest savings.”

Winston Salem-based Kenco Electric, who became a CPS client in the first quarter, cites technology and customer service as the highlights of their conversion. “The superior service and flexible online input options made our transition very positive,” said Forrest Ritchey, Kenco's office and accounting manager. “We have been very impressed with our dedicated customer service rep and our ability to access payroll and payroll reports 24/7.”

CPS continues to thrive in the second quarter with the addition of 15 more companies including a Raleigh-based law firm.

About Co-operative Payroll Solutions LLC (CPS)
CPS is a full service payroll processing provider that helps businesses of all sizes save time and money by outsourcing their payroll and HR management needs.

Co-operative Payroll Solutions investors include: Allegacy Services, LLC, NC Credit Union League, Waterloo Community Financial Services, Member Gateways, CU Holding Company, LLC, The Members Group LLC and MaPs Credit Union. For more information, visit www.cooperativepayroll.com.