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FSI SIGNS LONG TERM AGREEMENT WITH CHELSEA STATE BANK IN MICHIGAN FOR ITEM & DATA PROCESSING

SEPTEMBER, 2008 - GLEN ROCK, NJ – Financial Services, Inc. (FSI), a leading provider of quality data processing, item processing, and Internet services to financial institutions, recently signed a long-term agreement for item and data processing with Chelsea State Bank, headquartered in Chelsea, Michigan.

Chelsea State Bank holds $205 million in assets and is based in southern Michigan. The Bank’s headquarters is in Chelsea, with an additional location in downtown Chelsea and a third branch in the Village of Dexter.

“Seamless: Our conversion to FSI was seamless. So much so, that if we had not informed the end-users, they would not even have realized we had converted. It was transparent – the way it should be,” said Michael D. Willis, Vice President & CIO of Chelsea State Bank. “The attention to detail and customer service from everyone at FSI continues to be top notch. You could say that FSI gave us an in-house feel in a service bureau environment.”

Patrick “P.J.” Schunke, President of FSI, says, “The fact that Chelsea State Bank chose to sign a long term agreement with us, is a sign of their confidence in FSI and their confidence is well placed. In addition to taking care of all of their item and data processing needs, we promised Chelsea Bank – as we promise all our clients – a fast and easy transition to the FSI system, and we delivered. The Chelsea Bank staff was amazed at how quickly and flawlessly their conversion was implemented.”

FSI is one of the largest independently owned service providers to the banking industry and has been creating customized, turnkey banking solutions since 1954. In addition to FSI’s headquarters in Glen Rock, NJ, the Company opened an Item Processing and Disaster Recovery Services Center in Mount Laurel to enable FSI to service South Jersey, the Philadelphia area, eastern Pennsylvania and Delaware.


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