Northern Mass Telephone Workers Credit Union Signs New Debit Contract, Renews Credit Processing Agreement

St. Petersburg, FL, Oct. 5, 2006 – Northern Massachusetts Telephone Workers Credit Union (NMTWCU) of Lowell, Mass., signed a long-term agreement under which PSCU Financial Services will provide processing support for the credit union’s signature and PIN debit programs. Under the terms of the agreement, the NMTWCU will convert 23,000 signature and PIN debit accounts to the DebitAdvantageTM platform. The credit union, a member of the cooperative for nearly 20 years, also signed a five-year contract extension for credit card processing services with PSCU Financial Services, the nation’s largest credit union service organization.

“We made the decision to move our debit processing to PSCU Financial Services because of the enhanced functionality and usability of the DebitAdvantage platform, as well as the proactive fraud controls the cooperative offers for its credit and debit services. We also gained attractive pricing and workflow efficiencies by combining both credit and debit processing services with a single vendor,” said Sue Morison, Senior Vice President of Operations, NMTWCU.

The credit union’s staff worked closely with PSCU Financial Services in the past to grow its credit program and looks forward to future success, according to Morison. During one 12-month period, the NMTWCU boosted its outstanding credit balances by 24 percent.

“We are always pleased when a credit union that we have worked with for a long time, like NMTWCU, contracts with us for additional services,” said David J. Serlo, President, PSCU Financial Services. “More credit unions are realizing the benefits of using our cooperative as a single source for credit and debit card processing, and we’ll continue to deliver innovative solutions that help credit unions better serve their members.”

About Northern Massachusetts Telephone Workers Credit Union (NMTWCU)

The credit union has been in business for 84 years. Initially, membership in NMTWCU was limited to telephone workers. Today membership in NMTWCU is open to the community. The credit union has 24,000 members and $402 million in assets. It has offices in Lowell, Framingham, and Danvers, Mass. More information is available at www.nmtwcu.org.

About PSCU Financial Services

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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