Minnesota Credit Unions Join Growing cuStudentLoans.org Customized Private Student Lending Marketplace

NEW YORK, NY – February 22, 2010 — Fynanz, Inc., the financial technology company that develops customized private student lending solutions and powers the cuStudentLoans.org private student loan marketplace, is pleased to announce a partnership with seven leading Minnesota credit unions: Members Cooperative Credit Union; Hermantown Federal Credit Union; North Memorial Federal Credit Union; St. John’s of Little Canada Credit Union; SouthPoint Federal Credit Union; Cities Credit Union and Northwoods Credit Union.

Recognizing the need for private student loans in Minnesota, these leading credit unions have banded together to bring a funding solution to students and their families. With college enrolment at an all time high, paired with the escalating cost of tuition, private student loans provide families with a complimentary product to assist them with funding higher education. The seven Minnesota credit unions are offering the EdAccess private student loan, which is available through the cuStudentLoans.org marketplace. The loan includes a financial literacy component that helps students learn good credit habits and build their credit score while they are still in school.

Members Cooperative Credit Union, the largest credit union in northern Minnesota managing more than $280 million in assets, was the first credit union in Minnesota to join the marketplace and partner with Fynanz. “We wanted a student loan product that complemented our long-term growth strategy and helped students improve their financial literacy,” says Tammy Heikkinen, Members Cooperative Credit Union President and CEO. “Fynanz helps us do both while diversifying our product portfolio.”

Hermantown Federal Credit Union was the second credit union in Minnesota to partner with Fynanz. “One of the reasons Hermantown Federal Credit Union has partnered with Fynanz is to not only have the capability to offer our younger members a private student lending marketplace that helps them achieve their higher education goals, but to also help these members establish good credit in the future by educating them about borrowing,” said Scott Lundgren, President of Hermantown Federal Credit Union.

“Our relationship with this group of participating Minnesota credit unions is an important addition to our marketplace. As credit unions look to bring more services to Gen Y members, our technology platform delivers a valuable benefit to members by helping them meet their education financing needs while improving their financial literacy.” said Vince Passione, Fynanz CEO and Founder.

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About Fynanz, Inc.

Fynanz Inc. is a leading technology provider of custom private student lending programs and turn-key solutions. Fynanz pioneered technology that easily puts lenders into the private student lending business. The innovative technology is simple to implement and customize, without the need to purchase or install any software. This end-to-end integrated solution includes complete origination, underwriting, servicing and marketing. Fynanz also powers cuStudentLoans.org, the industry’s leading private lending marketplace, and helps credit unions of all asset sizes and fields of membership monetize private student lending by attracting younger members and growing their membership base. Fynanz currently serves more than 30 credit unions across the country. Visit www.fynanz.com for more information or call 1-800-881-8985.

About Members Cooperative Credit Union

Members Cooperative Credit Union offers local service, smart financial products and dynamic education programs to the Duluth, Cloquet, Aitkin, and McGregor communities. MCCU is proud to be the largest credit union in Northern Minnesota, uniting communities since 1936 and serving its member/owners with multiple locations in the region. For more information on MCCU, visit www.membersccu.org or call 218-625-8500.

About Hermantown Federal Credit Union

Hermantown Federal Credit Union is located in the heart of the Hermantown community. It was organized in 1943 serving members of the Duluth Homestead Association and patrons of the Hermantown Community Store. By 1950 the credit union had attracted 175 members and by 1965 the total had grown to 2,371. Currently Hermantown Federal Credit Union is serving nearly 13,500 members, which includes all of St. Louis County and local union and trade associations. The main office is located at 4477 LaVaque Road in Hermantown and the Branch office is located at 2516 London Road in Duluth, MN. For information visit www.hermantownfcu.org or call 218-729-7733.
Media Contact:

Alexi Venneri, Marketing and Communications
Fynanz, Inc.
alexi@fynanz.com
206-669-6989

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