Press
FSCC and eZforex.com Launch CU Movement’s First Integrated Foreign Currency Purchase Platform
Contact: Micah J. Parker
Communications Manager, FSCC
(888) 372-2669 ext.1239
mparker@ fscc.com
ONTARIO, CA – February 14, 2011 – FSCC (Financial Service Centers Cooperative, Inc.), the nation’s largest credit union shared branching network with over 6,500 network locations, announced a strategic alliance with eZforex.com, Inc, (eZforex) the nation’s leading online foreign exchange company with over 4,000 affiliate locations, to further automate foreign currency exchange process for credit union members nationwide. FSCC and eZforex are the first financial services companies to introduce this service to the credit union industry, in the U.S. and internationally.
Providing a safe, secure, turn-key system, eZforex allows credit unions to offer convenient foreign currency purchases. FSCC’s shared branching interface now includes eZforex, connecting online foreign currency transaction data to the FSCC Network. Credit Union members can now purchase foreign currency in over 100 currencies with the ease of electronic debit from their checking, savings or line-of-credit account. With convenient delivery to a home or office, FSCC’s members can now arrive at their destination ready for business or leisure without the hassle of waiting in long foreign exchange lines.
According to U.S. Bureau of Transportation Statistics, 77 million passengers travelled to international destinations in 2010, spending an estimated $207 billion. According to industry reports, daily foreign currency exchanges are in the trillions—an opportunity virtually untapped in the credit union industry—until now.
“We are committed to offering our credit unions the best benefits in financial services,” noted Sarah Canepa Bang, President/CEO, FSCC. “Our relationship with eZforex will provide access to a much-needed product for consumers who travel internationally. We are pleased to offer our members the ability to purchase foreign currency quickly and conveniently without experiencing credit card surcharges, unnecessary fees and inflated exchange rates. This is just another example of a value-added service to our credit union members.”
“We are delighted to work with FSCC— a technology-driven organization that promotes creativity, innovation, convenient access to finances, credit union growth and expansion for the industry,” said Evan Shelan, President/CEO, eZforex. “By uniting with FSCC, we are opening more doors for credit unions to assist their membership with international financial services.”
About FSCC (Financial Service Centers Cooperative, Inc.)
FSCC is the nation’s largest and most convenient credit union Shared Branching Network providing over 6,500 full service deposit-taking locations in all 50 states. FSCC can be summed up in three words: Connectivity, Continuity, and Convenience. Dedication to all three of these values inspired FSCC to create the Collaborative Innovation Model, or CIMple, bringing to the table a full suite of electronic and personal member service tools. FSCC is also the innovator behind 24/7 shared branching at more than 2,200 7-Eleven® Vcom® units. FSCC credit unions represent $144.8 billion in total assets and 12.2 million members. Since 1999, FSCC has returned over $15.5 million to its members through patronage dividends, rebates and return of capital. For more information, please visit http://www.fscc.com or call 888-372-2669 ext. 1236.
About eZforex (eZforex.com, Inc.)
eZforex a Texas based company, is the nation’s leading Foreign Exchange service provider for credit unions, banks, airlines and travel-related portals. Incorporated in 1994, eZforex was designed for international travelers to easily access over 100 foreign currencies in a single marketplace with next day delivery. Today, eZforex services over 4,000 business-to-business affiliates including financial institutions and travel related companies including Rail Europe, Abercrombie Kent, Perillo Tours, United, and Continental Airlines. eZforex is NAFCU Services’ Preferred Partner for Outsourced Foreign Exchange Services. For more information about eZforex, visit http://www.ezforex.com or call 877-393-6739 ext. 4090.