Educators Credit Union Successfully Implements IA Systems’ StreamLend Velocity^Ò

 Enhanced solution processes more than 198 loans in first day

ALBANY, N.Y., June 26, 2006 – IA Systems, a provider of lending software and services to credit unions, banks and other financial institutions, announced that Racine, Wis.-based Educators Credit Union successfully implemented StreamLend Velocity, a Web-based, paperless loan origination system, on June 7, 2006.

            A three-year customer of IA Systems, $780 million Educators Credit Union migrated to StreamLend Velocity because it needed a comprehensive loan automation program that would streamline everything from processing and underwriting to funding and closing. Upon implementation, the credit union processed more than 198 loans in the first day and funded more than 50 loans in the first 48 hours. The 15 branch, 70,000 member credit union typically works with up to 20 simultaneous users on the system and continues to experience quick, accurate responses. Educators Credit Union also chose to migrate to StreamLend Velocity because its browser-based structure simplifies IT support and operations.

            “IA Systems continues to provide our credit union with the advanced technologies necessary to maintain a competitive edge on lending,” said Paul Jalosky, systems administrator at Educators Credit Union. “The conversion to StreamLend Velocity was truly a celebration for us. The solution is already enhancing the volume and efficiency of our loan processes, in turn generating revenue for the credit union and a quick, efficient loan process for our members.”

            StreamLend Velocity automates workflow, speeds credit and loan decisioning, integrates sales channels, and assists financial institutions manage risk by helping them remain in compliance with all state and federal regulations, including enhanced Reg. B, the US PATRIOT Act and OFAC, among others.  The product decreases operational costs and increases loan processing efficiencies. Built on an open standards .NET and XML architecture, StreamLend Velocity offers seamless integration with all major core processors and third-party vendors.

“We developed StreamLend Velocity based on the industry need for an affordable, comprehensive loan origination system that can be customized to meet the needs of any financial institution,” said Chris Cazer, COO of IA Systems. “Feedback from customers such as Educators Credit Union, combined with the insights of our experienced staff, have resulted in a simple, efficient process that is appreciated by credit union employees and members alike.”

About IA Systems

Since 1991, IA Systems has developed technology to streamline business operations for credit unions, banks, and other financial institutions. In 2000, St. Paul, Minn.-based Securian Financial Group, with assets of more than $26 billion, purchased IA Systems, providing IAS with a national sales force and the financial backing of one of the nation’s largest independent distributors of insurance protection services for financial institutions.

IA Systems’ flagship product, StreamLend Velocity, is a paperless, end-to-end loan origination system that simplifies, automates, and accelerates the lending process using industry-leading tools, including: a user-centric Web interface, configurable workflow, expansive sales channel integration, and a modular software design based on open standards. The powerful and flexible browser-based tools of StreamLend Velocity automate workflow, speed credit and loan decisioning, integrate sales channels, and manage risk for financial institutions, while decreasing operational costs and increasing loan processing efficiencies.

For more information about IA Systems and its products and services, visit the company’s Web site at www.IASystems.com, write 500 New Karner Road, Albany, N.Y. 12205, or call 800.803.7554 ext. 396.

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For more info, contact: Lisa Santy, 518.862.9200 ext. 396, lsanty@iasystems.com