Addison Avenue Federal Credit Union Enhances Loan Automation With APPRO Systems' LoanCenter Consumer

Business Wire, March 2, 2004

Business Editors

BATON ROUGE, La.--(BUSINESS WIRE)--March 2, 2004

APPRO Systems, Inc., the leading provider of automated credit risk management and financial technologies for the lending industry, today announced that Palo Alto, Calif.-based Addison Avenue Federal Credit Union ($1.7 billion assets) has purchased an application service provider (ASP) version of LoanCenter Consumer(TM), APPRO's automated credit evaluation system developed to meet the special needs of consumer lenders.

Addison Avenue Federal Credit Union is in the process of a core system conversion and needed a credit evaluation system that was compatible with its new core processing system from Open Solutions, Inc. (OSI), a provider of integrated enabling technologies for financial institutions. Because the ASP version of LoanCenter Consumer is compatible with OSI's solution, Addison Avenue Federal Credit Union selected the APPRO system to help its credit administration department increase lending volume, while keeping down the costs associated with expected growth.

The robustness and scalability of the LoanCenter Consumer system will enable the credit union to make better automated decisions with faster turnaround times for more than 2,000 loans each month. LoanCenter Consumer was purchased in January and the credit union plans to go live in July.

"We needed a system that could be easily integrated into our new core processing system," said Scott Pellegrini, consumer lending product manager for Addison Avenue Federal Credit Union. "APPRO also has a reputation for innovation and great customer service."

"The interface capabilities of our system were an important component of Addison Avenue Federal Credit Union's purchase decision and the selection of LoanCenter Consumer will significantly improve its overall consumer lending processes," said Steve Uffman, chairman and CEO of APPRO Systems, Inc. "The Credit Union discovered that through LoanCenter Consumer they will be able to vastly improve their loan volume, while at the same time enhancing the service they provide to members."

About Addison Avenue Federal Credit Union

Addison Avenue Federal Credit Union, based in Palo Alto, Calif., has more than 20 branches in ten states including Puerto Rico. The more than 300 credit union employees serve more than 120,000 members around the world. Standing by their brand promise of "simplifying members' lives," Addison Avenue Federal Credit Union continues to grow by expanding into new geographies and delivering new and innovative products and services to employees and family members of HP, Agilent Technologies and a host of other companies. For additional information about Addison Avenue Federal Credit Union, visit its Web site at www.addisonavenue.com.

About APPRO Systems, Inc.

APPRO Systems, Inc. is the lending industry's leading provider of comprehensive, automated credit risk management and financial technologies for the Internet and traditional lending environments. APPRO supports more than 400 financial institutions, with customers of all types in the United States, Canada and Puerto Rico. The company provides rapid implementation time and professional services for its signature product, LoanCenter(TM), a scalable software system that enables high decision quality and speed in automating the entire workflow of processing credit applications and originating loans for lenders of all sizes. The 25-year-old company is based in Baton Rouge, La. with additional offices in Dallas, Texas. For additional information about APPRO, visit the company's Web site at www.approsystems.com.