Anheuser-Busch Employees' Credit Union Selects IA Systems' StreamLend® Velocity; .NET Architecture Design, Hosted ASP Environment to Meet Credit Union's Changing Needs

Business Wire, Feb 27, 2006

WASHINGTON -- IA Systems, a provider of lending software and services for credit unions, banks and other financial institutions, announced at the 2006 Governmental Affairs Conference that St. Louis-based Anheuser-Busch Employees' Credit Union (ABECU) has selected StreamLend Velocity to automate and accelerate its lending operations for consumer indirect, and home equity loans.

StreamLend Velocity, a customizable, paperless loan origination system, automates the entire lending process and streamlines everything from processing and underwriting to funding and closing by using next-generation, browser-based tools and design. ABECU has opted to use IA Systems' new application service provider (ASP) facility, a low-cost entry option that eliminates the need for on-site installation and maintenance, and provides superior disaster recovery support.

ABECU, a 27-branch, $810 million credit union, decided to partner with IA Systems because its previous loan processing technology did not have the functionality necessary to meet the institution's growing loan demand.

"We researched several leading providers of loan origination systems to ensure that the system we selected offered the most advanced functionality to meet our members' needs while still being able to give them the highest level of service," said Emerson Smith, vice president of branch operations at ABECU. "StreamLend Velocity was the only solution we found that provides true Web-browser capabilities in an ASP environment. It offers superior underwriting capabilities with seamless interfaces to third-party applications and without updates to desktop PCs, or any other unnecessary steps. IA Systems' industry advancements enable ABECU to offer our members faster loan turn-around time; the hosted ASP option allows us to do all this with minimum IT responsibilities on our part."

IA Systems' ASP facility offers superior disaster recovery and business continuity solutions, at a cost much lower than a financial institution could provide with an in-house installation. The hosting facility also provides the high-quality, broadband infrastructure to support an institution's rapid growth.

IA Systems strategically hires IT professionals with substantial experience in lending operations to work in its operations center, which allows clients to work with partners who understand their industry and are cognizant of the security issues facing today's market.

"Anheuser-Busch Employees' Credit Union is a recognized leader in the delivery of multiple financial services," said Chris Cazer, chief operating officer of IA Systems. "Selecting StreamLend Velocity and using our ASP will not only provide the credit union with enhanced loan products and services, but will also protect its business continuity and secure its sensitive customer data. We look forward to helping ABECU meet and exceed its business goals by providing advanced technology and the highest level of client service throughout our relationship."

ABECU recently had six employees attend a StreamLend Velocity training session at the IA Systems' facility to learn about the operations. The credit union is schedule to "go live" with the product in the beginning of Q2 of 2006.

About IA Systems

Since 1991, IA Systems has developed technology to streamline business operations for credit unions, banks, and other financial institutions. In 2000, St. Paul, Minn.-based Securian Financial Group purchased IA Systems, providing the backing of a parent company with $26 billion in assets. Securian is one of the nation's largest independent distributors of insurance and protection services for financial institutions. IA Systems' flagship product, StreamLend Velocity, is a paperless, end-to-end loan origination system that simplifies, automates, and accelerates the lending process using next-generation tools such as a user-centric browser interface, configurable workflow, and modular software design. The powerful and flexible tools of StreamLend Velocity automate workflow, speed credit and loan decisioning, integrate sales channels, and manage risk for financial institutions, while decreasing operational costs and increasing loan processing efficiencies.

For more information about IA Systems and its products and services, visit the company's Web site at www.IASystems.com, write 500 New Karner Road, Albany, N.Y. 12205, or call 800.803.7554 ext. 279.

Editor's Note: The correct usage of the product name is: "StreamLend Velocity" with only the first, or most prominent, usage containing the Registration symbol following StreamLend; with "StreamLend" as one word; with the "L" capitalized; and with "Velocity" in italics.