PSCU Financial Services Continues Commitment to Filene Research Institute; Funding Will Total $500,000

Research Vital to Helping CUs Attract, Serve Younger Members

St. Petersburg, FL, Dec. 6, 2006 – PSCU Financial Services announced that it provided a $150,000 contribution to the Filene Research Institute as part of its renewed multi-year commitment to help fund research that will help the credit union industry attract and retain young adults and young families. The goal of this in-depth research effort is to identify this generation’s financial needs and develop innovative programs that will attract young members to the credit union industry.

Three years ago, PSCU Financial Services elected to partner with Filene Research Institute and became the institute’s first Chairman’s Benefactor supporter. The cooperative contributed $250,000 over the past three years and will contribute an additional $250,000 as part of its second three-year commitment to the Institute.

“PSCU Financial Services has raised awareness of the aging of credit union members and the immediate need to focus on the next generation. Their leadership and financial support has been the catalyst that has launched five major research projects into the needs of adults under the age of 30, and the development of successful business models that credit unions can use to serve these young adults,” said Mark C. Meyer, incoming Executive Director/CEO, Filene Research Institute. “Since PSCU Financial Services became involved in this effort, other credit union industry organizations have followed their lead by making contributions and by supporting our research and innovation efforts.”

“PSCU Financial Services’ contribution to fund additional young adult research and development comes at a critical time for credit unions. An aging membership means a decrease in borrowing, which will result in lower interest income,” says Meyer. “The Filene Research is committed to exploring the critical issue of how credit unions can successfully attract and retain more young adults and young families so that they can achieve growth in lending products and services.”

“We believe the knowledge gained from this long-term partnership with Filene Institute will have a lasting effect on the industry for decades to come,” said David J. Serlo, President, PSCU Financial Services. “It is our desire wherever possible to help fund efforts that benefit the industry as a whole and to support the collection and distribution of information that assist credit unions in making strategic decisions that assure success for many years to come.”

About PSCU Financial Services

As a non-profit cooperative, PSCU Financial Services is owned by more than 500 member credit unions representing over 10 million cardholder accounts and more than 390,000 online bill payment subscribers. Its Contact Center services more than 10 million inquiries a year.

PSCU Financial Services maintains its headquarters and Eastern operations center in St. Petersburg, Florida. The company is also supported by a West Coast operations center based in Phoenix, Arizona. PSCU Financial Services is the nation's largest Credit Union Service Organization (CUSO).

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