Saks Fifth Avenue CU Unveils PayCardProgram

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NEW YORK - (07/14/04) -- Saks Fifth Avenue Enterprises FCUsaid it has signed with GenPass, Inc., to offer the company'sPayCard program to its members. The PayCards are stored value debitcards that can be issued in place of paychecks for employees thatprovide safe, low-cost money transfers. The 28-year-old creditunion also sees it as a bridge product that will allow it to servesome potential members the credit union was previously forced toturn away. Genpass is a unit of Irving, Texas-based GenPassTechnologies LLC.

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