Addison Avenue Federal Credit Union Grows Outstanding Balances By 24 Percent in 2007

AdvisorsPlus Consultants Post Dramatic Gains in Outstandings, Active Accounts for Participating Credit Unions

St. Petersburg, FL, January 31, 2008 – Addison Avenue Federal Credit Union, Palo Alto, Calif., is well on its way to achieving its goal of $100 million in credit balances by the end of 2009. The credit union boosted outstanding balances by 24 percent in 2007 by working with AdvisorsPlusTM professionals from PSCU Financial Services, the nation’s largest credit union service organization (CUSO). The credit union has $2 billion in assets and 139,000 members.

Credit unions that take advantage of the AdvisorsPlus consulting services have seen an average increase in outstandings of 42 percent over the past two years, with a 10 percent growth in gross active accounts over the same time period. AdvisorsPlus coordinated more than 250 growth campaigns in 2007. “AdvisorsPlus professionals help credit unions develop active and successful credit card programs with limited personnel and financial investment,” said David J. Serlo, President and CEO, PSCU Financial Services.

Addison Avenue FCU participated in three AdvisorsPlus campaigns during 2007, and also conducted new account acquisition and activation promotions. “AdvisorsPlus representatives played a vital role in our success because they have the knowledge and industry experience to design an ongoing program of effective promotional campaigns. Based on our success to date, we believe we can maintain a 24-26 percent growth rate over the next two years and achieve our goal of $100 million in outstandings,” said Scott Pellegrini, Product Marketing Manager, Addison Avenue Federal Credit Union.     

Customized AdvisorsPlus campaigns in 2007 included a credit line increase promotion, which generated a $216 lift in balances per month per solicited cardholder, followed by a direct mail balance transfer campaign with a low rate APR that earned $3,343 in average balances transferred per account. A second targeted balance transfer campaign won $5,013 per responding account in transferred balances.

In the fall of 2007 the credit union boosted outstandings using an AdvisorsPlus account activation campaign that features convenience checks and a $10 credit rebate. In addition, they participated in a new account acquisition program offering a low APR on balance transfers and 5,000 CURewards points.

PSCU Financial Services’ AdvisorsPlus consultants have one objective—to strengthen credit and debit portfolios of member credit unions. This team of seasoned industry professionals act as an extension of the credit union management staff and provide:

• Strategic evaluation to assist with growth, activation, retention and profitability objectives;
• Marketing strategies, credit analysis and operational reviews and
• Data mining for targeted marketing campaigns; and
• Comprehensive campaign management including planning, forecasting, project management, response tracking, and results measurement.

About Addison Avenue Federal Credit Union

Addison Avenue Federal Credit Union, headquartered in Palo Alto, California, serves employees of Hewlett-Packard, Agilent Technologies, and other related companies.  With 24 branches in 10 states and Puerto Rico and assets of over $2 billion, it serves more than 139,000 members. For more information, visit www.addisonavenue.com.

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 500 member credit unions representing over 11 million cardholder accounts and more than 470,000 online bill payment subscribers. Its Contact Center handles more than 12 million inquiries a year. PSCU Financial Services maintains an Eastern operations center in St. Petersburg, Florida, and a Western operations center based in Phoenix, Arizona. The cooperative’s wholly owned subsidiary, Digital Dialogue, operates two 24/7 call centers in Detroit, Mich., that specialize in member services, new member acquisition, cross-selling and automated lending solutions.

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 the leader in the credit union industry, the company offers gateway access to national and regional networks. It also provides full function ATM terminal driving services. For more information, visit the company's Web site at www.pscufs.com.

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