PSCU Financial Services Debuts New Identity Theft Solution

St. Petersburg, FL, July 11, 2006 – PSCU Financial Services announced that it is now offering a comprehensive identity theft solution to its member-owner credit unions through an agreement with IDT Alliance.

“Our decision to partner with IDT Alliance, a nationally recognized firm, was based on their ability to provide a comprehensive product with several competitive advantages, including restoration services and pre-emptive steps that members can take to protect their identity,” said John Pembroke, Executive Director of Marketing & Product Development, PSCU Financial Services.

The Identity Theft solution comes in two tiers. Basic coverage includes an assigned recovery advocate that assess the damage, creates a recovery plan that includes the use of limited power of attorney, corrects all incidents of fraud, and provides a post-recovery followup. Advanced coverage adds continuous credit monitoring with weekly alerts that identify account activity, identity theft insurance and educational materials.

“Many members fear identity theft not only because of the potential loss of financial resources but also the excessive amount of time required to combat and resolve the problem. Therefore we believe this solution is an excellent way for credit unions to attract and retain members,” Pembroke said.

He added that past surveys have reported that almost half of respondents would consider paying a fee for identity theft protection and would also consider switching financial institutions to obtain better coverage against identity theft.

Credit unions can elect to make this service available free to all members or use the service as a differentiator to reward Platinum cardholders, members with both credit and debit cards or users of other bundled services.

This new solution delivers benefits to employees as well as members, Pembroke said. “Just as identity theft creates extra work for individual victims, it also creates additional work for credit union employees. Therefore this solution helps credit union staffs and their members address this important and timely area of concern.”

About PSCU Financial Services

As a non-profit cooperative, PSCU Financial Services is owned by more than 500 member credit unions representing 10 million cardholder accounts and more than 345,000 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).

Established in 1977, the company provides a broad array of cost-effective, high quality financial services that include credit, debit, ATM, prepaids, 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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