Person-to-Person Payments Piloted AtCU

EAST HARTFORD, Ct. - (02/16/04) -- American Eagle FCU was the firstNYCE financial institution customer to pilot the company's newperson-to-person payments service last week. The transactionconducted through an American Eagle FCU ATM, is the first time inthe U.S. that money transfer transactions were completed in a liveproduction environment through an electronic funds transfernetwork. The inaugural transaction transferred funds from anaccount at American Eagle FCU to deposit accounts at WCTA FCU, inSodus, N.Y., and Banknorth in Massachusetts. The transaction, knownas account-to-account, or A2A, was made possible by NYCE's enhancedmessage structure payments processing that enables NYCE's 2,200member institutions to use a suite of 'card not present' real timefunds transfer services to cardholders.