Dearborn Federal Credit Union Selects FiTECH Systems for Data Processing and Automation Technology

ATLANTA--Nation's 17th Largest Credit Union cites FiTECH's open systems architecture and successful track record as reason for selection FiTECH Systems announced today that the nation's 17th largest credit union in membership has selected FiTECH Systems' Windows NT(tm)-based MANAGER GOLD(tm) System for its information processing. Under this multi-year agreement, FiTECH will provide Dearborn Federal Credit Union (DFCU), headquartered in Dearborn, Michigan, with a comprehensive automation solution for member services, automated consumer and mortgage loan origination, electronic delivery services, general ledger and full financial management and much more.

Dearborn Federal will implement the complete FiTECH software solution, which utilizes the Unisys ClearPath Enterprise Server in a client server architecture environment. FiTECH has been a long-standing Unisys Value Added Reseller. Larry Nichols, vice president and chief information officer at DFCU's Dearborn Financial Services, said, "The decision to switch to FiTECH's MANAGER GOLD System involved a year-long Request for Proposal (RFP) process and a thorough evaluation of five software vendors. There were many factors regarding feature and function considered, but ultimately we selected FiTECH Systems because of its successful implementations of the latest 32-bit, ODBC (Open Database Connectivity) technology. The combination of their technology methodology, feature/function capability and their singular focus on the credit union industry made it the best choice for us as our partner for the future.

Mark Roberson, senior vice president of FiTECH Systems, said, "Dearborn Federal's selection of FiTECH Systems as its technology partner is reflective of their mission to 'deliver world-class service through blending people, technology and high quality financial products.'"

"This agreement is also a milestone in FiTECH's growth," said Sandy Greer, president of FiTECH Systems. "It is an indication that FiTECH is committed to meeting the diverse needs of the nation's largest credit unions, he added. Ron Unger, president and CEO of Dearborn Federal, said, "The board of DFCU enthusiastically approved the recommendation of FiTECH. Our staff is very excited about the enhanced capabilities we expect from the new system."

About Dearborn Federal Credit Union

Located in the greater Detroit metropolitan area, Dearborn Federal Credit Union is the largest credit union in Michigan, and the 17th largest credit union in the U.S. in membership size and provides financial services to meet the needs of more than 171,000 members worldwide. Chartered in 1950, DFCU serves the financial needs of employees of Ford Motor Company, its subsidiaries and related businesses. DFCU also serves the employees of Henry Ford Medical Centers. DFCU's assets exceed $1.1 billion.

For more information about Dearborn Federal Credit Union, call (313) 336-2700 or (888) 336-2700. Visit Dearborn FCU's Web site at www.dfcu.org.

About FiTECH Systems

FiTECH Systems has specialized in providing credit union data processing solutions since 1977. Beginning with MANAGER and continuing with its current flagship product, MANAGER GOLD, FiTECH offers a complete range of on-line and in-house services to credit unions. MANAGER GOLD is a Windows-based data processing system that offers credit unions user-friendly, graphical on-line delivery. It features components vital for credit union automation including: advanced cross selling and sales tracking, signature and photo identification, on-line help, integrated loan origination and general ledger accounting.

For more information on FiTECH Systems contact Claire Stenger, marketing support manager, at 800-275-4374, or write to 3098 Piedmont Road, Suite 200, Atlanta, GA 30305. The FAX number is 404-233-4815. Visit FiTECH's Web site at www.fitech.com.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.