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$614 Million California Credit Union Selects IA Systems to Automate Its Entire Lending Operations

(Albany, NY) October 12, 2004  Financial Partners Credit Union, based in Downey, California, has selected IA Systems, Inc.—a leading developer of software products and services for the financial industry—to provide an automated solution for its entire lending process.

Financial Partners recently purchased StreamLend^TM, IA Systems’ flagship product, which streamlines the entire loan application and underwriting process, integrating lending procedures into one, paperless environment. StreamLend is the only paperless loan origination software system that seamlessly integrates with all sales channels to provide financial institutions with the ability to automate their entire lending process. StreamLend’s modular approach also allows organizations to automate specific segments of their lending process, including direct, indirect, consumer, Internet, and home equity loans.

Financial Partners —one of the largest credit unions in the Los Angeles area, with more than $614 million in assets and 58,000 members, serving all of Orange County and select Los Angeles County cities—will implement StreamLend for all their lending channels including direct, Internet, and home equity products.

Lori Reeves, Senior Vice President of Member Sales and Service, noted, “The StreamLend system will allow Financial Partners to meet all of its main objectives in a single software package—namely, to eliminate manual processes and to eliminate our labor and paper intensive practice of faxing documents from branch to branch. We needed a system that had powerful automated decisioning processes and an excellent Internet lending capability. StreamLend accomplishes all that, and more.”

Wanda Williams, Senior Vice President of Planning and Administration, added, “StreamLend will allow Financial Partners to increase our volume of loans and at the same time decrease processing time by consolidating and automating our loan workflow."

 “We are pleased that Financial Partners Credit Union selected IA Systems to automate its entire lending program,” stated Deborah C. Ryan, CEO of IA Systems. “They represent the latest addition to our growing family of re:Member Data clients who rely on StreamLend to make their lending operations more efficient and more profitable.”

For more information about IA Systems  or StreamLend™, please contact, Penny Perkins at 518-862-9200 ext. 279, or pperkins@iasystems.com.

About Financial Partners Credit Union

     Financial Partners Credit Union has been delivering financial solutions to Southern California for 67 years. Established in 1937 by the aerospace industry, the credit union was originally formed to help members establish credit and avoid exorbitant lending interest rates prevalent at the time.

            After serving its members for 65 years as Rockwell Federal Credit Union, the credit union became Financial Partners Credit Union in January 2001. Today, Financial Partners serves all who live, work, worship, or attend school in Orange County and select cities in Los Angeles County. Financial Partners is a full-service financial organization offering a wide-array of products and services to meet the needs of its members.

For more information, visit Financial Partners CU online at www.fpcu.org or call 800.950.7328.

About IA Systems, Inc.

     IA Systems (IA) is a leading provider of loan origination software for banks, credit unions, and other financial institutions. In 2000, Securian Financial Group (SFN), based in St. Paul, Minnesota, purchased IA Systems, giving IA the backing of a parent company with $23 billion in assets. As an affiliate of SFN, IA Systems is represented by a national sales force that promotes the company's flagship product: StreamLend^TM, a paperless loan origination software system that automates the lending process. Headquartered in Albany, NY, the heart of New York’s Tech Valley, IA Systems has seen annual sales growth of 40% for the last three years and now provides our StreamLend suite of fast decisioning, automated workflow, and risk management tools to more than 125 financial institutions worldwide.
     For more information, visit IA Systems online at www.iasystems.com or call 800.803.7554.

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