FundsXpress and Memphis Area Teachers’ Credit Union Announce Multi-Year Renewal and Expansion of Business Partnership

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FundsXpress Financial Network, Inc., the premier provider of online financial services, today announced a multi-year extension and expansion of their successful business partnership with Memphis Area Teachers’ Credit Union (MATCU), a non-profit, member-owned financial institution with 15 locations throughout the Memphis, Tennessee area. MATCU has more than $509 million in assets.

FundsXpress Financial Network, Inc., the premier provider of online financial services, today announced a multi-year extension and expansion of their successful business partnership with Memphis Area Teachers’ Credit Union (MATCU), a non-profit, member-owned financial institution with 15 locations throughout the Memphis, Tennessee area. MATCU has more than $509 million in assets.

In addition to the fx eBanking platform, FundsXpress and MATCU expanded their agreement to include the fx Enhanced Marketing and Reporting Package, which has been successful in dramatically increasing adoption rates for online users, features Notify Me, Ad Hoc Reporting, and Advanced Target Notifications. MATCU recently migrated to the latest versions of CheckFree WebPay and CheckFree BillPay and Presentment.

“We’re committed to making our Internet banking and bill pay, as convenient and easy to use for our members,” said Becky Johnson, director of electronic services MATCU. “With FundsXpress, we have been able to increase our bill pay adoption rates and subsequently our member retention rates, which are critical to our success. In fact in just the past two years, our Internet adoption rate has increased by more than 35 percent and our number of bill pay users has grown by more than 78 percent.”

MATCU is implementing the fxSecurity suite to include fxDual Authentication, a new service FundsXpress recently made available at no cost to all of its client financial institutions. The fxSecurity suite provides the most comprehensive anti-fraud and risk analysis tool in the industry and gives clients a considerable advantage in the marketplace.

“We were very excited that FundsXpress will provide us with its security solutions at no cost,” said Johnson. “It is imperative for us to protect our members from identity theft, phishing, and all other potential threats. With the FFIEC requiring us to perform risk assessments on authentication processes by the end of the year, it’s critical we have the tools in place to comply. FundsXpress will enable us to meet those demands, and was a critical factor in renewing our contract well before its expiration.”

“Memphis Area Teachers’ Credit Union has been a partner for over five years, and we are excited to continue our relationship with them through 2010 and beyond” said Greg Constantine, FundsXpress executive vice president. “Our best-in-class solutions will help them continue to grow, while offering the newest and most innovative services to their members. We’re especially proud to be able and provide MATCU our fxSecurity suite at no additional cost,” said Constantine. The renewal of our partnership confirms MATCU’s trust in the quality of our online solutions and our dedicated support team.”

About FundsXpress Financial Network, Inc.

FundsXpress is a premier provider of Internet-based financial services and products for banks and credit unions nationwide. Through a state-of-the-art data center, the company delivers a secure, scalable and proven financial product suite. FundsXpress products include retail and commercial Internet banking, cash management, automated lending, and dynamic Web sites. FundsXpress clients benefit from the company’s value-added compliance support, customer service and leading adoption rates. For more information, please visit the company at http://www.fundsxpress.com.

About Memphis Area Teachers’ Credit Union

MATCU is a non-profit, member-owned financial institution, with more than $509 million in assets. With 15 locations in the Memphis area, MATCU offers an extensive menu of financial services at fees typically lower than those charged by banks. MATCU has expanded its membership to allow almost anyone in the Memphis area entrance.

Media Contacts:        

Jennifer Britton-Turnbow    

FundsXpress Financial Network

512.493.2851

cell 512.825.2868

Joan Nieman

Memphis Area Teachers’ Credit Union

Director of Marketing

901.266.2764

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Jennifer Britton-Turnbow
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