QwickRate Grows Subscriber Base by 24% in the Past 12 Months

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Financial Institutions In Search of Best Rates for CD Funding and Investing Drive 68% Surge in Transaction Activity.

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Hands down, we are getting the best yields on our CD investments from the QwickRate marketplace. We made more interest in the first quarter of 2010 on just one third of our investment dollars than we made for all of 2009.

QwickRate® announced today that more than 3,000 financial institutions are now utilizing its premier, online marketplace as a trusted, nationwide source for non-brokered funding and investing. The Company reported that it has grown its subscriber base by 24% in the past 12 months and has witnessed a 68% increase in transaction activity for the same period.

QwickRate's strong, continued growth is attributed to the fact that an abundance of new investors are turning to its marketplace as a reliable avenue to get better returns on their investments. At the same time, other financial institutions are relying upon QwickRate more and more as a prudent source for generating lower cost funding outside of their local markets, and diversifying their funding mix.

The QwickRate marketplace is a direct forum for hundreds of credit unions to quickly connect with pre-screened banks from all over the country and identify investment opportunities--without incurring third party, rate stripping or broker fees. Through the marketplace, these investors are securing the best nationwide rates for certificate of deposits (CDs), increasing their returns on each CD investment by as much as 30 to 90 basis points.

"Hands down, we are getting the best yields on our CD investments from the QwickRate marketplace," said Linda Williams, CEO at Akron Firefighter's Credit Union. "We made more interest in the first quarter of 2010 on just one third of our investment dollars than we made for all of 2009."

Fully compliant with the FDIC as a non-brokered Direct Deposit CD listing service, the QwickRate marketplace offers banks the ability to generate deposits at the best rates for their institution--even at an interest rate that is lower than the national rate. Since January 1, 2010, the average of the top 10 rates listed in QwickRate has been consistently below the national rate. In addition, rates for over 50% of the deposits generated through QwickRate were posted at least 25 positions below the top rate listed--and those positions are well below the national rate.

"QwickRate has been and will continue to be a valuable source for diversifying our funding," said Brant Ward, Funding Officer at Signature Bank of Arkansas. "The deposits we've raised have helped us reconfigure our balance sheet and better manage assets and liabilities in this lower rate environment. At the same time, we're in a stronger liquidity position for when rates rise."

Financial institutions utilize the Company's QwickTools™ to eliminate paperwork and streamline the direct funding and investing process. QwickRate is constantly advancing the capabilities and automated features of its marketplace to make it even more advantageous for subscribers. The latest development is its new, expanded View Rates capability which provides more flexibility and time-savings for investors purchasing multiple CDs with varied durations at one time.

"The continual growth we're experiencing year over year is a real testament to the incredible value the marketplace is providing institutions seeking to diversify their funding and investing, especially in the wake of the financial crisis," said Shawn O'Brien, president, QwickRate. "We've built a unique marketplace where banks and credit unions across the country are connecting and finding opportunities time and time again that are helping them maximize their net interest margins."

About QwickRate
QwickRate is the premier marketplace for non-brokered funding and investing. With more than 3,000 members, QwickRate offers community financial institutions a cost-effective way to gain access to a nationwide CD market. The marketplace includes QwickTools™, a comprehensive set of online tools that speed the funding and investing process and help banks and credit unions get the best rates for their institutions, while more efficiently managing their portfolios. QwickRate is known for its exceptional customer service which includes unlimited support and valuable regulatory guidance. QwickRate is a Preferred Service Provider of The Independent Community Bankers of America (ICBA). For more information, visit http://www.qwickrate.com.

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Pam Sarubbi

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