Two Leading Financial Service Companies Pair up to Introduce Foreign Currency Exchange...

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Thu May 15, 2008 1:00pm EDT

Two Leading Financial Service Companies Pair up to Introduce Foreign Currency Exchange Program to Credit Union Industry

SAN DIMAS, Calif. & LONGVIEW, Texas--(Business Wire)--
Financial Service Centers Cooperative, Inc. (FSCC), the nation's
largest credit union shared branch network with over 3,000 in-network
locations, today announced a strategic alliance with eZforex.com, Inc.
(eZforex), the nation's leading online foreign exchange company, to
further automate foreign currency exchange process for credit union
members nationwide. FSCC and eZforex are the first financial services
companies to introduce this service to the credit union industry, in
the U.S. and internationally.

   eZforex provides a turn-key system that allows credit unions to
offer convenient international payments and foreign currency
purchases. eZforex will provide a mechanism for consumers and members
to purchase foreign currency though a safe, secure and seamless
method.

   Through this alliance, eZforex system will be connected to FSCC's
shared branching interface that connects online foreign currency
transaction data to the FSCC Network. Credit Union members may
purchase foreign currency in over 100 currencies and pay by FSCC
electronically debiting a checking, savings or a line of credit
account. The currency can be delivered to a member's home or office
within 24-48 hours.

   "We are committed to offering our credit unions the best benefits
in financial services," noted Sarah Canepa Bang, President/CEO, FSCC.
"Our credit unions already enjoy the multiple products and services on
the network, but our relationship with eZforex will give them access
to a product that is much needed for any consumer who is traveling
overseas."

   "We are delighted to work with FSCC as they are a
technology-driven organization that promote innovation, convenient
access to finances, credit union growth and expansion for the
industry," said Evan Shelan, President/CEO, eZforex. "By uniting with
FSCC, we are opening more doors for credit unions to assist their
membership with international financial services."

   "It is a fast, efficient and convenient way to allow members to
avoid costly conversions of currency. It saves unnecessary fees and
inflated exchange rates in airports, banks, currency exchange kiosks
and hotels. It also avoids the 3 percent surcharge when using a credit
card overseas," continued Bang.

   According to eZforex's metrics, the average person buys $200 U.S.
worth of foreign currency for each day spent as the average traveler
spends at least 8 days overseas.

   The Bureau of Transportation Statistics report that 90.5 million
passengers boarded U.S. airplanes from U.S. airports to international
destinations in 2007, thus creating a multi-trillion dollar foreign
currency industry virtually untapped in the credit union industry.

   "Credit union members are traveling the globe in record numbers
and conducting business globally. Offering a convenient venue for
members to purchase foreign currency or send a wire to Europe in
minutes is a value-added service to credit union members that
generates new revenues," added Bang.

   This alliance also represents both companies' advocacy work with
the Children's Miracle Network (CMN), supporting Credit Unions for
Kids(R) programs nationwide.

   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 use of
technology allowed it to offer 24/7 access for financial services at
more than 2,000 7-Eleven(R) Vcom(R) Units. FSCC credit unions
represent $138.5 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, visit www.fscc.com or call
888-372-2669 ext. 1230.

   About eZforex.com, Inc. (eZforex)

   eZforex.com, Inc., a Longview, Texas based company, is the
nation's leading Foreign Exchange service provider for credit unions,
airlines and travel-related portals. Incorporated in 1994, eZforex.com
was created to provide a Business to Business (B2B) and (B2C) platform
to its affiliate's clients prior to departing the United Sates. Today,
eZforex services over 1,000 credit unions including, banks, and travel
related affiliate locations such as Rail Europe, United, Northwest,
and Continental Airlines in all 50 states with over 4,000 users. For
more information about eZforex, visit www.ezforex.com or call
877-393-6739 ext. 59.

FSCC
Bonnie Kramer, EVP/COO, 888-372-2669 ext. 1220
bonnie.kramer@fscc.com
or
eZforex, Inc.
Evan Shelan, President/CEO, 903-663-3056
evan.shelan@ezforex.com
Carrie Anne Begley, 903-663-3056 ext. 59
carrie.anne@ezforex.com

Copyright Business Wire 2008
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