NEW YORK, April 3, 2014 /PRNewswire/ -- Newtek Business Services, Inc., NASDAQ: NEWT, The Small Business Authority^® has partnered with Teachers Federal Credit Union (TFCU), one of the largest and most prominent Credit Unions in the United States with 26 branches, 234,000 Members and $4.9 billion in assets, to provide its Members who own and operate businesses the essential tools they need to compete effectively in today's marketplace.

Newtek President and CEO, Barry Sloane said, "We are thrilled to be partnering with TFCU. They have really impressed us as being so squarely focused on providing top-quality, cost-effective products and services to serve their Members. Progressive in their thinking, TFCU realized that to expand their role as a trusted resource to their Membership, they needed to expand the menu of core, small business products and services that they offer. We appreciate that TFCU recognized Newtek as an industry leader in providing these core products and services and saw that our specialized product suite is a natural fit for their Member base, a large percentage of whom own or operate their own businesses."

Robert G. Allen, President and CEO of the Hauppauge, NY-based credit union, said, "We are excited to work with Newtek Business Services, Inc. as they give us the opportunity to add some innovative business operating products to our existing, robust menu of services for our Members and the small- and medium-sized businesses that they own here on Long Island. TFCU recognizes that many businesses in the community are employing our Members, and supporting those businesses is a vital service the community and the local economy."

About Newtek Business Services, Inc.

Newtek Business Services, The Small Business Authority^®, provides the following products and services:

The Newtek Advantage^™: Mobile real-time operating platform for business intelligence. The Newtek Advantage^™ puts all critical business transactions in real-time. Access data on your smartphone, tablet, laptop or PC as it relates to eCommerce for credit/ debit transactions, website statistics, payroll, insurance and business loans.

• Electronic Payment Processing: eCommerce, electronic solutions to accept non-cash payments, including credit and debit cards, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs.
• Managed Technology Solutions (Cloud Computing): Full-service web host, which offers eCommerce solutions, shared and dedicated web hosting and related services including domain registration and online shopping cart tools.
• eCommerce: A suite of services that enable small businesses to get up and running on-line quickly and cost effectively, with integrated web design, payment processing and shopping cart services.
• Business Lending: Broad array of lending products including SBA 7(a) and SBA 504 loans.
• Insurance Services: Commercial and personal lines of insurance, including health and employee benefits in all 50 states, working with over 40 insurance carriers.
• Web Services: Customized web design and development services.
• Data Backup, Storage and Retrieval: Fast, secure, off-site data backup, storage and retrieval designed to meet the specific regulatory and compliance needs of any business.
• Accounts Receivable Financing: Receivable purchasing and financing services.
• Payroll: Complete payroll management and processing services.

Newtek Business Services, Inc., The Small Business Authority^®, is a direct distributor of a wide range of business services and financial products to the small- and medium-sized business market under the Newtek ^® brand. Since 1999, Newtek has helped small- and medium-sized business owners realize their potential by providing them with the essential tools needed to manage and grow their businesses and to compete effectively in today's marketplace. Newtek provides its services to over 100,000 business accounts and has positioned the Newtek ^® brand as a one-stop-shop provider of such business services. According to the U.S. Small Business Administration, there are over 27.5 million small businesses in the United States, which in total represent 99.7% of all employer firms.

About Teachers Federal Credit Union (TFCU)

Teachers Federal Credit Union (TFCU), one of the country's largest credit unions, is a full-service, not-for-profit financial institution.  TFCU was founded on Long Island in 1952 and now has over $4.9 billion in total assets, serves more than 234,000 members and has 26 full-service branches throughout Long Island including: Amityville, Bay Shore, Brookhaven National Laboratory, Central Islip, Commack, East Northport, Entenmann's, Farmingville, Hauppauge, Holbrook, Huntington, Merrick, Nesconset, North Babylon, Oakdale, Patchogue, Port Jefferson Station, Riverhead, Rocky Point, Selden, Shirley, Smithtown, South Setauket, Stony Brook University (2) and Wading River. Members also have access to services at more than 5,000 shared service centers located across the country. TFCU offers financial services to all people and businesses located in Nassau and Suffolk counties More information is available about TFCU by visiting www.teachersfcu.org or by calling (631) 698-7000.

The Small Business Authority^® is a registered trade mark of Newtek Business Services, Inc., and neither are a part of or endorsed by the U.S. Small Business Administration.

Note Regarding Forward Looking Statements

Statements in this press release including statements regarding Newtek's beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek's actual results to differ from management's current expectations, are contained in Newtek's filings with the Securities and Exchange Commission and available through http://www.sec.gov.

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Simrita Singh
Director of Marketing
(212) 356-9566, ssingh@thesba.com

Jayne Cavuoto
Investor Relations
(212) 273-8179, jcavuoto@thesba.com  

Lynne Viccaro O'Leary
Vice President, Marketing, TFCU
(631) 698-7000 ext. 3695, lynneo@teachersfcu.org  

SOURCE Newtek Business Services, Inc.