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TheStreet Open House

MoneyGram Renews Agreement With Mountain America Credit Union

MoneyGram (NASDAQ: MGI), a leading global money transfer, bill payment and check processing company, announced today that it has renewed its official check processing agreement with Mountain America Credit Union, a federally chartered credit union.

MoneyGram’s agreement with Salt Lake City, Utah-based Mountain America includes the signing of a multi-year contract extension to offer processing and program management for Mountain America’s official bank checks.

The agreement leverages MoneyGram’s PrimeLink® Official Check outsourcing solution, which includes daily balancing and reconciliation, inventory management, real-time updates and a state-of-the art online platform. MoneyGram has worked with Mountain America since 1997 in support of Mountain America’s official check program and through its efforts has helped the company prevent fraud losses through timely detection of fraudulent transactions.

“We are extremely pleased to continue our relationship with Mountain America Credit Union,” said Rex Northen, vice president of MoneyGram’s banking solutions group. “Mountain America Credit Union is a valued client of MoneyGram. We provide a great product to Mountain America and its customers and an easy to use web-based PrimeLink platform for Mountain America employees, along with enhanced capabilities for prevention of fraud losses.”

“MoneyGram has been a strong partner assisting Mountain America Credit Union in mitigating fraud losses,” said Gabe Engman, vice president of finance for Mountain America. “Beyond fraud prevention, we’ve also found MoneyGram’s customer care, responsiveness, and reliability to be critical to the success of our continued relationship.”

About MoneyGram International

MoneyGram International, a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers money transfer services worldwide through a global network of 327,000 agent locations -- including retailers, international post offices and financial institutions -- in nearly 200 countries and territories. MoneyGram also offers bill payment services in the United States and Canada. MoneyGram is listed on the NASDAQ Stock Exchange under the ticker symbol MGI. To learn more about money transfer or bill payment at an agent location or online, please visit moneygram.com or connect with us on Facebook.



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