Mobile Banking Growth to Exceed 150 Million Users

Shared Branch Credit Unions Have an Advantage

San Dimas, Calif.—(February 11, 2009)—The number of mobile phone subscribers that use their phones for mobile banking transactions will exceed 150 million globally by 2011, according to a new study by Juniper Research. FSCC Shared Branching Network and PSCU Financial Services are prepared to serve credit unions and their members with a complete mobile banking tool. PSCU and FSCC say that the tool features real-time, on demand access to checking, savings, credit card, and other account information. The solution also features the cooperative’s award-winning 24/7 Contact Center support.

Officials say the mobile banking tool is not just another electronic banking channel, but rather a key product for credit unions that yields many significant benefits.

“Credit unions realize that mobile banking attracts younger demographic, and reduces operating costs. The mobile phone is the device that people - especially Generation Y - will not leave home without,” says Sarah Canepa Bang, President/CEO, FSCC. “FSCC and PSCU are advancing those capabilities by making this tool cost effective for a credit union to implement and user-friendly for the member .”

PSCU Financial Services is the first CUSO to provide mobile banking. Its mBanking platform can integrate seamlessly with credit union systems.

“Our existing connectivity with multiple data sources trims implementation time and costs,” said David J. Serlo, President and CEO, PSCU Financial Services. “With our platform, credit unions can achieve a simple, stress-free implementation with no initial capital outlay.”

Any credit union on a Shared Branching Network can use the cooperative’s current interface to provide mBanking access. For credit unions that do not use shared branching, the cooperative can integrate directly with a compatible core data processor, including Symitar™, UltraData® and USERS.

There is no implementation charge for the cooperative’s mBanking platform. Its fees, which are based upon the number of active users, are among the lowest in the industry—whether a credit union integrates through a shared branching network or one of its compatible core data processors.

PSCU Financial Services also offers a comprehensive user-friendly interface to leverage mobile banking services.

“The online and mobile banking sectors continue to innovate at a rapid pace and usage continues to grow, especially in the expanding mobile channel,” notes Serlo.”Our mobile banking channel is robust in that it allows flexibility for credit unions to experiment with technology.”

According to PSCU officials, multiple formats are offered including Wireless Application Protocol (WAP) and a downloadable application (Applet), allowing credit unions to choose the best option or deploy both formats for maximum adoption and usage.

About Financial Service Centers Cooperative, Inc. (FSCC)

FSCC is the nation's largest and most convenient credit union Shared Branch Network providing over 5,600 full service deposit-taking locations in the U.S. and five foreign countries. FSCC's innovative use of technology allows it to offer 24/7 access for financial services at more than 2,000 7-Eleven® Vcom® Units.  FSCC credit unions represent $141 billion in assets. Since 1999, FSCC has returned over $13 million to its members through patronage dividends, rebates and return of capital. For more information, please visit www.fscc.com or call 888-372-2669 ext. 1235.

About PSCU Financial Services

Based in St. Petersburg, Florida, PSCU Financial Services is the nation's largest credit union service organization (CUSO) and serves more than 1,100 financial institutions nationwide. As a non-profit cooperative, the company is owned by more than 600 member credit unions representing over 13 million accounts and subscribers. Its Contact Centers handle more than 14 million inquiries a year.

PSCU Financial Services offers 24/7 member support through four Contact Centers: its Eastern operations center in St. Petersburg, Fla.; a Western operations center based in Phoenix, Ariz.; and two call centers in Detroit, Mich. These Contact Centers perform member servicing and new member acquisition, cross-selling and automated lending solutions as well as support for debit/credit/prepaid cardholders and online bill payment subscribers.

Established in 1977, the company provides a broad array of cost-effective, high quality financial services that include credit, debit, ATM, prepaid, bill payment and contact center solutions. PSCU Financial Services uniquely offers its members a full range of processing options, any combination from full service to in-house pass through processing for credit, debit and ATM transactions. As a leader in the credit union movement, the company offers gateway access to national and regional networks. It also provides full function ATM terminal driving services. For more information, visit PSCU Financial Services’ website at www.pscufs.com.

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