Golden Gateway Financial Selected by Prime Alliance Solutions and BECU to Provide Credit Unions With Powerful Reverse Mortgage Solution

OAKLAND, CA--(Marketwire - July 7, 2009) - Golden Gateway Financial, a comprehensive financial resource for seniors and retirees, today announced that it has been selected by Prime Alliance Solutions as its provider of reverse mortgage solutions for Prime Alliance Solutions credit union customers. The company also announced that BECU (Boeing Employees' Credit Union), Washington's largest credit union and the nation's fourth largest credit union, is the first customer.

Two considerations have credit unions searching for a compelling reverse mortgage solution. First, a large percentage of the industry's $825 billion in assets are held by seniors. Second, according to the US Census, nearly 8,000 adults celebrate their 60th birthday every day(1). Additionally, many adult children of seniors are interested in better understanding how a reverse mortgage can help their parents retire more comfortably. This offering then is a natural way for credit unions to improve and extend their already strong relationships with local members who are in or approaching retirement as well as their extended families.

"In these tough economic times, credit unions are looking to provide their members with the widest array of financial options possible," said Gary Fee, president of Prime Alliance Solutions. "Golden Gateway Financial is a best-in-class complete reverse mortgage solution that allows us to give credit unions what they need in the quickest, most cost effective, and simplest way possible."

Prime Alliance Enhances its Strategic Mortgage Solutions and Real Estate Services

As the leading technology provider for credit unions across the country, Prime Alliance Solutions counts more than 1,600 credit unions with more than 3,500 branches within its network. Prime Alliance Solutions offers a portfolio of integrated, advanced mortgage solutions for these cooperative financial institutions, ranging from forward mortgage originations to Golden Gateway Financial's newly selected reverse mortgage solution.

As part of the agreement, Golden Gateway Financial will offer a white label solution for Prime Alliance's network of credit unions, including a web interface, reverse mortgage comparison tools, and member sales and support, so that they can immediately provide this valuable service to their members. In return, Prime Alliance Solutions will market and distribute Golden Gateway Financial's reverse mortgage offering exclusively to its network of credit unions.

Golden Gateway Financial is a comprehensive online financial resource and reverse mortgage broker. The company offers a number of industry leading and award-winning financial tools and calculators to help older Americans better prepare for retirement. In addition, the company provides seniors with superior customer service through a trained team of consultants, a prepaid card program for reverse mortgage borrowers, and a service that allows seniors to automatically pay critical bills from reverse mortgage proceeds. As a broker, Golden Gateway Financial works with multiple lenders to provide members with the right reverse mortgage for their unique situation. The Golden Gateway Financial solution can integrate a credit union's own products into its offering.

BECU Chooses Leading Reverse Mortgage Solution

The first customer of this new partnership is BECU (Boeing Employees' Credit Union), the leading credit union in the state of Washington and the nation's fourth largest with more than 600,000 members and assets in excess of $8.7 billion. The not-for-profit financial institution is committed to building trust and excellence with its members through a wide range of financial products that meet personal, small business and wealth planning needs.

"We were searching for a seamless reverse mortgage product that provided the same high level experience our members have come to expect," said Tom Berquist of BECU. "Now, we are better equipped to meet the needs of our members by offering additional value across a wide range of superior financial products."

Golden Gateway Financial will deliver educational and marketing materials to help BECU begin a dialogue with their membership about the benefits of a reverse mortgage.

"Now more than ever, Americans are turning to community lenders in order to work with those they know and trust," said Eric Bachman, founder and CEO of Golden Gateway Financial. "Credit unions have historically done a great job of putting Americans into homes more affordably, now through these exclusive relationships they can help older Americans extract value from those homes and improve their lives in retirement."

If you are a Prime Alliance Solutions customer and would like additional information about the Golden Gateway Financial reverse mortgage solution, please contact Joe Nagy, Director of Business Development at 510.208.8807 or joen@goldengateway.com.

To learn more about Golden Gateway Financial or its online retirement assessment tools and resources, please visit http://www.goldengateway.com.

About Prime Alliance Solutions, Inc.

Prime Alliance Solutions, Inc. is the largest credit union service organization and the credit union movement's recognized leader in innovative mortgage solutions. Prime Alliance's approach to mortgage lending is used by more than 1,600 credit unions nationwide. Prime Alliance offers a full family of real estate solutions, including online applications, loan origination software, loan servicing, closing and settlement services, real estate services, Strategic Mortgage Solutions University and consulting. Visit the website at www.primealliancesolutions.com.

About BECU

With more than 600,000 members and more than $8.7 billion in assets, BECU is the largest credit union in Washington and one of the top five financial cooperatives in the country. The company can be found online at www.becu.org.

About Golden Gateway Financial

Golden Gateway Financial (http://www.goldengateway.com), located in Oakland, California, is a comprehensive resource for senior citizens, baby boomers and soon-to-be retirees to assess their financial health at retirement. Through a unique set of online tools and clear and unbiased communication, the company helps individuals address "The Great American Retirement Dilemma." The tools enable users to better assess the security of their nest egg and to make intelligent choices to fully enjoy what should be the best years of their lives. The company also operates the industry's premiere reverse mortgage and life settlement services with innovative new calculators and products for each, and a team of trained counselors to help seniors better understand the products and evaluate whether they are right for them.

(1) US Census, Oldest Baby Boomers Turn 60! (press release), January 2006

Contact Information: Press Contact: Michael Azzano Cosmo Public Relations, Inc. 415.596.1978 Todd Pietzsch BECU 206.439.5906