CUNA Mutual Partners with Parsam to Integrate uMonitor Processes with loanliner.com

MEMPHIS, TN, October 18, 2006 - CUNA Mutual Group and Parsam Technologies announced a partnership agreement to provide better service to credit unions that use CUNA Mutual's loanliner.com with the integration of Parsam's uMonitor next generation New Account Opening and Funding Service.

CUNA Mutual's loanliner.com is an Internet lending suite that provides credit union members around-the-clock access to a credit union's lending services. The modular design allows a credit union to build an Internet lending channel suited for a credit union and its members. Loaded with cross-selling options, loanliner.com helps generate income and loan volume while adhering to current security, compliance and privacy protection regulations. The loanliner.com processes all loans, integrating branch, telephone and Internet into one system.

uMonitor New Account Opening and Online Funding with Switch kit is the leading solutions used by the credit unions to bring branch level convenience to their members 7x24 hours at any place they have access to Internet. This highly successful offering has delighted the members with ease of joining a credit union and establishing new accounts. The real time ID verification, ID authentication, account registration, and funding using this service have reduced the time it takes to join a credit union and begin expanding relationships with online switch kit.

Combining these two powerful solutions through a real time interface offers credit unions the best of both worlds and offers a seamless user experience to their members. Analysts have discovered the first-time account opening experience poses an opportunity for cross sell up to 50% if they are made aware of all the services offered. The partnership will help credit unions approve and book more loans and protection plans, and simplify and expedite the membership requirement for credit unions. The uMonitor Online New Account will give credit unions the ability to provide a simple account opening experience, while dramatically reducing back office inefficiencies.

"CUNA Mutual Group's relationship with uMonitor is consistent with our philosophy of allowing credit unions to choose best of breed solutions and to build interfaces between loanliner.com and those systems," said John Putman, director, Lending Technology Systems for CUNA Mutual. "Both companies have unique solutions and technologies that can greatly benefit our common credit union customers."

Some of the benefits with the completed integration include:

• Call centers utilize the uMonitor Account Opening process to setup membership and process loan for members.
• Improve cross sell with the credit union loan products and loan protection services
• Complete funding of new membership account uMonitor online funding.
• Simple workflow automation with integrated membership application and loan processing with real time decisioning
• Customer know the easy steps to switch Direct Deposit account
• Uniform process across all delivery channels: at the branch, call center, online and kiosk.
• Ability to enhance regulatory compliance.

"We are pleased to be recognized with CUNA Mutual through this partnership to enhance credit union service with integrated loanliner.com and uMonitor offering," said Dinesh Sheth, CEO of Parsam Technologies. "Credit unions are on the front line to delight their members, provide them with new convenience and run an efficient operation. Combining our industry leading account opening solution with loanliner.com will truly benefit all parties."

uMonitor is recognized in the financial services industry for delivering highly dependable innovative services to meet the growing demand to be competitive and offer delightful user experience with the best technology, exceptional customer service, and prompt system implementation at a very affordable price. www.umonitor.com

For more information or like to request a free consultation how the two services could work with your institution, please contract uMonitor sales or CUNA Mutual sales.

About CUNA Mutual
CUNA Mutual Group is the leading provider of financial services to credit unions and their members worldwide. More information on the company is available on the company's Web site at www.cunamutual.com.

About uMonitor – Parsam Technologies
uMonitor financial technologies offer a wide range of online solutions specifically designed to help financial institutions provide the most up-to-date services. These highly configurable and customizable solutions enable financial institutions to increase profitability, generate revenue, improve regulatory compliance, and improve employee productivity while reducing costs. uMonitor technologies include New Account Setup and Online Funding with Switch Kit, New Loan Application Processing, Funds Transfer Service, Bill Presentment and Payment Solutions, Premium Account Aggregation Service, Document Management System, Advisor-Client Relationship Management and other services.

For more information, please visit www.umonitor.com or contact Gillian Smoot at gsmoot@umontitor.com or by phone at 901.757.1212, ext.7115.

Parsam Technologies , LLC
3197 Players Club Parkway
Memphis, Tennessee 38125

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