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Pen Air Federal Credit Union Signs 5-Year Contract with PSCU Financial Services for Credit Processing

Program Offers Extended Contact Center Hours, Reduced Risk of Fraud

St. Petersburg, FL, March 28, 2007 – Pen Air Federal Credit Union of Pensacola, Fla., signed a five-year agreement for credit processing services using the CreditAbility™ platform from PSCU Financial Services, the nation’s largest credit union service organization (CUSO).

Pen Air FCU will convert 16,000 credit card accounts from an in-house program to the CreditAbility platform in August. CreditAbility is a full-service offering that includes 24/7 support from PSCU Financial Services’ awarding-winning Contact Centers and reduced exposure to fraud through the use of advanced predictive technology that evaluates each credit/debit transaction as it is taking place so that fraud can be detected and prevented.

“The robust CreditAbility platform delivers excellent service, around-the-clock support and risk management services while simultaneously reducing expenses. We believe the ability to offer enhanced fraud protection and after-hours support will help us attract and retain cardholders. In addition, we look forward to tapping into the expertise of the cooperative’s experienced staff as we build and expand our credit program,” said Ken Davis, Vice President of Lending, Pen Air FCU. The credit union has 94,000 members and $736 million in assets.

“Pen Air Federal Credit Union is committed to providing high quality, personal service and exceptional value,” said Dave Serlo, president, PSCU Financial Services. “We at PSCU Financial Services have the same commitment to our member-owner credit unions, which is why we look forward to partnering with Pen Air FCU to provide them with quality service and solutions that will add value to their products they offer their members.”

About Pen Air Federal Credit Union

Founded in 1936, Pen Air Federal Credit Union was originally chartered to serve civil service and military employees assigned to bases in the area. Today it serves employees from various employee groups as well. The credit union has It has 94,000 members and $736 million in assets. For more information, visit www.penair.org.

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 400,000 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, lending 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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