Pentagon federal credit union online

Business/High Tech Editors

WOODCLIFF LAKE, N.J.--(BUSINESS WIRE)--June 5, 2002

NYCE Corporation, one of the leading electronic payments companies in the United States, today announced that Alexandria, Virginia-based Pentagon Federal Credit Union has signed a Participant agreement with the NYCE Network.

The signing underscores NYCE's efforts to continue to expand its mid-Atlantic presence.

"Through our relationship with NYCE, Pentagon Federal Credit Union members will be able to make deposits at ATMs operated by financial institutions throughout the U.S. that participate in NYCE's Shared Deposit Program," said James Schenck, Senior Vice President and Chief Administrative Officer with Pentagon Federal Credit Union. "Offering this convenience to our members is an outstanding benefit for organizations like ours."

NYCE's Shared Deposit Program enables financial institutions to designate their ATMs to accept deposits from other NYCE Participants' cardholders. Additionally, NYCE recently announced a change to its operating rules which will allow these terminal deployers to surcharge "foreign" deposits beginning September 1, 2002.

"The decision to allow institutions to surcharge foreign deposits was made to further enhance the value our customers receive from NYCE Network Participation," said Joe Makarewicz, NYCE vice president, noted.

ABOUT PENTAGON FEDERAL CREDIT UNION

With more than 469,000 members and nearly $4.8 billion in assets, Pentagon Federal Credit Union (www.PenFed.org) is the third largest federally chartered credit union in the nation and one of the largest and safest credit unions serving the Army, Air Force, and Department of Defense communities. Based in Alexandria, VA, Pentagon Federal Credit Union has branches in Northern Virginia, the District of Columbia, New York, North Carolina, Texas, Colorado, Europe, Turkey, and the Pacific with member access via the Internet at www.PenFed.org, toll-free telephone, fax, and mail. Pentagon Federal member savings are insured to $100,000 by the National Credit Union Administration, an agency of the U.S. Government. Pentagon Federal does business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

ABOUT NYCE

NYCE Corporation is at the forefront of electronic payments in the U.S., providing consumers with secure, real-time account access 100 million times each month. From standout customer service to superior levels of infrastructure reliability, NYCE leads the industry through its innovative spirit, dedication to quality and singular focus on real-time payment solutions. With First Data Corporation as its majority owner, NYCE is aligned with the world's leading electronic commerce and payment services company, creating unparalleled opportunities for new products and services.

NYCE Corporation operates the NYCE Network providing 2,200 financial institutions, retailers and independent ATM deployers with shared network services for automated teller machines (ATMs), on-line debit point-of-sale (POS), point-of-banking services and emerging A2A applications. The company also provides electronic funds transfer (EFT) processing services including ATM driving and fully-automated monitoring services, on- and off-line debit card processing and card authorization solutions. NYCE Corporation is headquartered in Woodcliff Lake, NJ, and can be found online at www.nyce.net.