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NAFCU Services Corporation Announces the Addition of Turn-Down Lending Programs
from XpressCredit to Their Preferred Partner Program

JANUARY 31, 2007

Arlington, VA - XpressCredit, a leading Internet based financial decision platform that provides an alternative method and source of consumer loan financing for credit union Members, today announced that they have joined the NAFCU Services Corporation Preferred Partner program.

The XpressCredit.net program provides a way for credit unions to retain the Member relationship even when that Member may not meet specified lending criteria. At the Members option, the system identifies potential alternative lenders while they are still on-site at the credit union, and a credit union representative can review terms and conditions with the Member to fulfill their traditional financial advisory role. In this way, credit unions avoid having Members go elsewhere to create a lending relationship with another financial institution, and will receive a referral fee as well for successful transactions. Back-end lenders are contractually barred from cross-selling Members sourced via this relationship.

XpressCredit founder and CEO, Paul Gignilliat expressed, “Our system is as much about lending as it is about member loyalty and retention. The program has already proven successful in driving lending volume and reducing churn as we have implemented it at a CUSO and in other credit unions, and we expect to see similar benefits accrue to others that want to participate.”

“Members that are declined for a loan today will go out and find that loan somewhere, “ noted NAFCU Services Corporation President, David C. Frankil. “The risk for a credit union is that in losing this lending relationship they will lose the rest of their Member’s business. XpressCredit.net allows a credit union to meet their Member’s needs while still retaining the relationship.”

As part of the Preferred Partner program, XpressCredit.net is waiving their standard $2,500 set-up for NAFCU Members, and there are no other financial or infrastructure requirements for credit unions to participate. Credit unions that wish to participate can be up and running in a matter of days.

About NAFCU Services Corp.
NAFCU Services Corporation, a wholly owned subsidiary of NAFCU, has been in business since 1975 and currently has 25 Preferred Partners offering solutions to the credit union community. For each product or service available, there are a host of companies from which a credit union can choose. NSC has conducted extensive research in order to best identify those that offer outstanding value and opportunity. For more information about NAFCU Services, visit www.nafcu.org/nsc.

NAFCU is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public. For more information about NAFCU, visit www.nafcu.org.

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