Webster offers customers payroll services

WATERBURY, Conn. – Webster Bank, a subsidiary of Webster Financial Corp. (NYSE: WBS), has started offering its business customers a suite of payroll services through an exclusive agreement with Complete Payroll Solutions, in Springfield, Mass.
CPS, a privately held payroll and employee benefits company founded in 2003, serves more than 2,000 businesses and processes payrolls nationwide.
The services will be offered through Webster’s branches and offices in New York, Connecticut, Massachusetts and Rhode Island.
“Webster’s vision is to become New England’s bank and this agreement positions us to provide a wider array of services to business customers across our footprint,” said William Samuelson, Webster’s director of business and professional banking.
CPS recently was honored by the Independent Payroll Providers Association (IPPA), the leading association of privately held payroll bureaus across North America, as the recipient of its prestigious 2007 Growth Award.
“This partnership is a great fit, especially since both CPS and Webster are striving to help businesses streamline processes and grow financially in this time of economic uncertainty,” said John Pettengill, CEO of CPS.
Webster Financial Corp. (NYSE: WBS) – a $17.1 billion company based in Waterbury, Conn. – is the holding company for both Webster Insurance and Webster Bank N.A., a financial services company with more than 150 branches including 10 branches in Rhode Island. Additional information is available at websterbankonline.com.