Orange County Federal Credit Union signs contract with EMB Mortgage

Business Wire, August 6, 1996

COSTA MESA, Calif.--(BUSINESS WIRE)--Aug. 6, 1996--EMB Corp. (NASDAQ BB:EMBZ) and its wholly owned subsidiary Electronic Mortgage Banc Ltd., announced that it has signed a contract with Orange County Federal Credit Union, with headquarters in Santa Ana, Calif.

Orange County Federal Credit Union has eight branch offices located throughout Southern California, with over 45,000 members. In 1994 it was named "Credit Union of the Year" by the National Association of Federal Credit Unions.

Bill Combs, vice president, lending and administration, of Orange County Federal Credit Union said: "EMB Mortgage combines their interactive mortgage banking software, M.A.X. (Mortgage Approval Xpress) with Intel Corp.'s ProShare Personal Conferencing 200 System, to originate mortgage loans.

"It is our intention to have EMB Mortgage originate all of our mortgage loan business, and we expect to dramatically increase our mortgage loan volume with their new interactive video technology that EMB Mortgage provides."

He went on to say, "It is truly a way for us to provide better service, and superior products through new technology for our members who are applying for a home mortgage."

Rory Hughes, chief executive officer of EMB Mortgage, said: "Orange County Federal Credit Union is considered one of the most progressive credit unions in the United States. We are very excited to provide a new service to their membership. We will be working together to further expand this technology to the credit union industry nationwide."

For more information on EMB Corp. or Electronic Mortgage Banc Ltd., please call Bruce J. Brosky at 800/EMB-9022 (800/362-9022).

CONTACT: EMB Corp., Costa Mesa

Bruce J. Brosky, 714/437-0738; fax: 714/437-0651