Sovereign Bank and CheckFree to Plant a Tree For Every New Electronic Bill Activation
05 Abril 2007 - 11:00AM
PR Newswire (US)
Companies Partner for 'Go Paperless' Campaign to Drive Consumers to
Use E-bills ATLANTA and WYOMISSING, Pa., April 5
/PRNewswire-FirstCall/ -- CheckFree Corporation (NASDAQ:CKFR) and
Sovereign Bank (NYSE:SOV) today affirmed their commitment to the
environment by launching the "Go Paperless" campaign. As part of
the Go Paperless campaign, developed to educate consumers about the
green-friendly benefits of paperless bills, Sovereign Bank and
CheckFree will donate $1 to The National Arbor Day Foundation for
each new electronic bill (e-bill) that customers activate at
Sovereign Bank from April 1 through May 31, 2007. Each donation
will help cover the cost of planting one new tree. "People today
are much more environmentally aware than ever, and are looking for
ways - no matter how big or small - to do their part, from
recycling to buying a hybrid car. Sovereign, together with our
technology partner CheckFree, hopes that consumers will take the
'Go Paperless' challenge and start paying and receiving bills
online as a way of doing their part to improve the environment,"
said Marshall Soura, managing director of Global Solutions Group,
Sovereign Bank. Consumers can sign up with participating billers to
receive e-bills - which contain the same information as the typical
paper version, delivered to them online rather than in the mail- at
http://www.sovereignbank.com/ or at any of nearly 800 Sovereign
Community Banking Offices in the Northeast. Receiving and paying
bills online helps reduce the environmental impact of bill paying
by eliminating the need for paper bills, envelopes and stamps.
According to the United States Postal Service, more than 10 million
tons of paper travel through the mail each year. By receiving and
paying bills electronically, Americans can take one more step in
preserving our natural resources. "If every American household
viewed and paid its bills online, it would reduce solid waste in
U.S. landfills by more than 800,000 tons a year, and help curb the
release of greenhouse gases by 2.1 million tons," said James Van
Dyke, president and founder of Javelin Strategy & Research, an
independent research firm. The Go Paperless campaign donations will
go to The National Arbor Day Foundation to plant trees across the
nation. Trees play a vital role in improving both urban and rural
environments, while reducing energy consumption. A single tree in
one day can provide oxygen for up to four people and discharge up
to 100 gallons of water from the ground into the air, according to
the U.S. Department of Agriculture. In one year, a tree can absorb
16.87 pounds of carbon dioxide. Trees planted near buildings can
also help lower utility costs and improve energy efficiency. "It
takes 24 trees to produce one ton of virgin printing and office
paper," said Kevin Sander, director of corporate partnerships at
The National Arbor Day Foundation. "Obviously, businesses and
consumers won't ever stop needing paper, but technology is helping
make an impact to reduce unnecessary paper usage and waste.
Electronic bill payment is a key element in that quest, and we
commend CheckFree and Sovereign Bank for their commitment to
helping conserve our natural resources." The 2007 Consumer Bill
Payment Survey, conducted by Harris Interactive and the Marketing
Workshop, Inc., and sponsored by CheckFree, revealed that: --
Fifty-two percent of e-bill users agreed that "receiving bills in
electronic form saves paper and energy, helping our nation's
environment" is one of the reasons they chose to receive e-bills.
-- Paperless billing is on the rise as consumers become more aware
of the environmental benefits of e-billing. Thirty-nine percent of
consumers receiving e-bills at bank websites said they no longer
receive a mailed copy of that bill. Are e-Bills the Same as Regular
Paper Bills? -- Improved Organization and Convenience -Consumers no
longer have to worry about a stack of paper bills sitting on the
kitchen table. Using a financial institution site, consumers can
view all their bills and schedule payments on the date of their
choosing from a single screen - while saving time and money. --
Better Financial Control-Consumers receive electronic bills at the
same online banking site where they already schedule bill payments,
making it easier to monitor and manage account balances. In
addition, consumers can choose an advanced feature that enables
them to receive alerts to review and authorize automatic payments
whenever the bill amount varies from a set figure. -- Security From
Fraud- More identity fraud takes place through traditional offline
channels, such as unsecured mailboxes, than through the Internet.
By using e-bills and taking other precautions, consumers can
actually minimize the risk of identity fraud. Spend Some Time at
ebillplace.com Consumers who want to learn more about electronic
billing and payment can visit http://www.ebillplace.com/. This
virtual neighborhood helps consumers discover their bill payment
tendencies through the Bill Payment Personality Quiz and includes a
demo that shows them how fast and easy it is to receive and pay
bills online. This educational website is a fun, interactive way
for consumers to learn about how e-bills can save them time and
money, review a list of financial institutions and portals that
offer them, see which companies send bills and receive payments
electronically, and review a list of items they will need to easily
and quickly enroll in an electronic billing and payment service.
About The National Arbor Day Foundation (http://www.arborday.org/)
The National Arbor Day Foundation is a nonprofit, environmental
education organization of nearly one million members, with a
mission to inspire people to plant, nurture, and celebrate trees.
More information on the Foundation and its programs can be found at
http://www.arborday.org/. About Sovereign
(http://www.sovereignbank.com/) Sovereign Bancorp, Inc.,
("Sovereign") (NYSE:SOV), the parent company of Sovereign Bank, is
a $90 billion financial institution, as of December 31, 2006, with
nearly 800 community banking offices, over 2,000 ATMs and
approximately 12,000 team members with principal markets in the
Northeast United States. Sovereign offers a broad array of
financial services and products including retail banking, business
and corporate banking, cash management, capital markets, wealth
management and insurance. Sovereign is the 17th largest banking
institution in the United States. For more information on Sovereign
Bank, call 1-877-SOV-BANK. About CheckFree
(http://www.checkfreecorp.com/) Founded in 1981, CheckFree
Corporation (NASDAQ:CKFR) provides financial electronic commerce
services and products to organizations around the world. CheckFree
Electronic Commerce solutions enable thousands of financial
services providers and billers to offer the convenience of
receiving and paying household bills online, via phone or in person
through retail outlets. CheckFree Investment Services provides a
broad range of investment management solutions and outsourced
services to hundreds of financial services organizations, which
manage about $1.7 trillion in assets. CheckFree Software develops,
markets and supports payment processing solutions that are used by
financial institutions to process more than two-thirds of the 14
billion Automated Clearing House transactions in the United States,
and supports reconciliation, exception management, risk management,
transaction process management, corporate actions processing, and
compliance within thousands of organizations worldwide. Certain of
the Company's statements in this press release are not purely
historical, and as such are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
These include statements regarding management's intentions, plans,
beliefs, expectations or projections of the future. Forward-looking
statements involve risks and uncertainties, including without
limitation, the various risks inherent in the Company's business,
and other risks and uncertainties detailed from time to time in the
Company's periodic reports filed with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K for
the year ended June 30, 2006 (filed September 8, 2006), Form 10-Q
for the quarter ended September 30, 2006 (filed November 8, 2006)
and Form 10-Q for the quarter ended December 31, 2006 (filed
February 8, 2007). One or more of these factors have affected, and
could in the future affect the Company's business and financial
results in future periods, and could cause actual results to differ
materially from plans and projections. There can be no assurance
that the forward-looking statements made in this press release will
prove to be accurate, and issuance of such forward-looking
statements should not be regarded as a representation by the
Company, or any other person, that the objectives and plans of the
Company will be achieved. All forward-looking statements made in
this press release are based on information presently available to
management, and the Company assumes no obligation to update any
forward-looking statements. DATASOURCE: CheckFree CONTACT: media,
Judy DeRango Wicks, +1-678-375-1595, ; or investor relations, Tina
Moore, +1-678-375-1278, , both of CheckFree; or Ellen Molle,
+1-617-757-5573, , of Sovereign Web site:
http://www.checkfreecorp.com/ http://www.sovereignbank.com/
http://www.arborday.org/ http://ebillplace.com/
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