Security Service Federal Credit Union Selects Travelers Express Official Checks

Business Wire, Oct 4, 1999

MINNEAPOLIS, Minn.--(BUSINESS WIRE)--Oct. 4, 1999--

Travelers Express Company, Inc., a major subsidiary of Viad Corp (NYSE:VVI), announced that San Antonio-based Security Service Federal Credit Union (SSFCU) has chosen Travelers Express' Official Check platform.

Steve Schott, chief financial officer at Security Service Federal Credit Union, said, "We chose Travelers Express' Official Check program because of their commitment to service and cost-saving features that will enable us to better serve our membership." Security Service has 370,000 members worldwide.

Philip W. Milne, chief executive officer at Travelers Express/MoneyGram, stated that he is pleased to be working with Security Service. "Credit unions often select Travelers Express as their Official Check provider because we don't compete for their members' deposits," Milne said. "Also, our system appeals to an increasing number of the nation's largest credit unions that want reliable, innovative and technologically advanced service for their members."

Travelers Express, which serves more than 5,000 financial institutions and 65,000 retail locations, annually processes one billion payment transactions valued at more than $120 billion. In addition to Official Checks and money orders, the company offers electronic bill payment services and MoneyGram money transfer services in 120 countries. Viad Corp is a $1.6 billion company based in Phoenix.

Security Service, the 15th largest credit union in the nation and the largest in San Antonio, has $1.7 billion in assets. This not-for-profit, member-owned financial institution is governed by an all-volunteer board of directors elected by the membership. More than 800 employees serve more than 370,000 members worldwide. SSFCU has 29 service centers in the United States.