Financial service Centers Cooperative, Inc., and PSCU Financial Services Partner to Deliver Mobile Banking

San Dimas, Calif. and St. Petersburg, Fla.—(March 3, 2008)—Financial Service Centers Cooperative, Inc. (FSCC) and PSCU Financial Services today announced they have formed a long-term alliance to further expand their existing business relationship. Each credit union service organization (CUSO) will begin to cross sell the other’s products and the two organizations will collaborate on new offerings for the credit union market.

The first result of this collaboration will be to join PSCU Financial Services’ mobile technology with FSCC’s interface and delivery channel to create a mobile banking platform. The two CUSOs plan to begin offering mobile banking to credit unions as early as May 2008. Officials at both companies report that test transactions have been successful and are confident of a spring roll out.

The service will provide users access to share, checking, bill pay, credit card, and prepaid account information anywhere and anytime via a mobile device/cell phone. In addition, members will experience feature rich functionality such as funds transfer, bill payment, and checking transaction history. The mobile service is designed to be easily integrated into credit unions’ internal systems.

Credit unions on the FSCC network will be able to use their existing shared branch interface to offer the mobile banking service. The shared branch interface eliminates costly implementation fees and/or host system programming.

Both companies are emphasizing the collaborative nature of the project and the importance of this new service to the credit union industry. “Offering mobile banking is critically important to the long-term success of the industry because this service will play a major role in attracting Gen Y members,” says PSCU Financial Services CEO David J. Serlo. “Our partnership with FSCC equips us to collectively develop a mobile banking product that will satisfy member needs at an attractive price. We hope that credit unions will rapidly embrace this affordable new service so that the industry as a whole can earn a reputation among younger adults for technology innovation.”

“Collaboration is the credit union way,” echoes FSCC President/CEO, Sarah Canepa Bang. “By partnering in a meaningful way, FSCC and PSCU Financial Services will help credit unions achieve a competitive advantage in a break out technology at a very economical price. In the end, what is good for the credit union movement is good for FSCC and PSCU Financial Services.”

Aite Group anticipates that the active base of mobile banking users in the U.S. could reach over 1.6 million by year-end 2007, rapidly rising to 35 million users by the end of 2010. According to their report, titled “Mobile Banking v.2.0: Time for the Perfect Storm?” the time is right for financial institutions to revisit offering mobile banking solutions.

Credit Union tech-talk reports that the mobile channel is particularly attractive to the 18- to 25- year olds that make up Generation Y. This demographic will adopt mobile banking more quickly than the general population, even factoring the mobile channel into their choice of a financial institution. Credit unions of all sizes would be well advised to invest in the mobile channel.

The partnership between PSCU Financial Services and FSCC is not unprecedented. Digital Dialogue, a wholly owned subsidiary of PSCU Financial Services, has provided outstanding 24/7 call center support for FSCC for nearly five years. Digital Dialogue will also play a significant role in the launch of the mobile banking product by providing 24/7 tier one and tier two support to credit unions and members using the service.

“Being able to provide immediate, responsive support around the clock is essential to satisfying the expectations of Gen Y members and earning their loyalty,” says Pete Schmitt, President, Digital Dialogue.

About Financial Service Centers Cooperative, Inc. (FSCC)

FSCC is the nation's largest and most convenient credit union Shared Branch Network providing 5,000 full service deposit-taking locations in the U.S. and five countries. FSCC's innovative uses of technology allowed it to offer 24/7 access for financial services at more than 2,000 7-Eleven® Vcom® Units. FSCC credit unions represent $133 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. 1230.

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 560,000 online bill payment subscribers. Its Contact Center handles more than 13 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 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 the company's Web site at www.pscufs.com.

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