Golden Gateway Financial Makes Reverse Mortgages Safer, Easier and More Practical for Many Older Americans

OAKLAND, CA--(Marketwire - February 9, 2009) - Golden Gateway Financial today introduced two new services that will make reverse mortgages even safer, easier and more practical for many borrowers.

The company, a comprehensive online financial resource for senior citizens, announced that it is now offering a prepaid card program for reverse mortgage proceeds and a service that allows for seniors to have critical monthly bills automatically paid out of their reverse mortgage income.

"New government regulations are making reverse mortgages more desirable than ever, and we've introduced these new services to provide even greater control and access to the funds made available through these programs," said Eric Bachman, founder and CEO of Golden Gateway Financial. "Our products are designed to let seniors easily and more thoroughly enjoy their retirement years with the knowledge that they are secure in their financial lives."

The Golden Gateway Financial Your Money Prepaid MasterCard®, issued by The Bancorp Bank, allows reverse mortgage borrowers to immediately and securely receive their monthly proceeds on a reloadable prepaid card instead of a check. The card can be used to get cash or make purchases at millions of locations, wherever MasterCard debit cards are accepted. Cardholders can log into an online account to check their funds balance and transaction history.

"The Bancorp Bank is excited to partner with Golden Gateway Financial. We are pleased to assist Golden Gateway in making money matters easier for seniors. As prepaid moves in different directions, we believe that reverse mortgages are here to stay and a prepaid card gives cardholders great flexibility," stated Jeremy Kuiper, Managing Director - The Bancorp Payment Solutions Group.

This new service not only helps borrowers to track income and expenses each month, but it also allays concerns over mailbox theft which may lead to identity theft or check fraud. In fact, more than 800,000 cases of identity theft are the result of mailbox theft.(1) This card will also help the thousands of seniors who are underbanked, eliminating the need for check cashing services.

In conjunction with the new card program, Golden Gateway Financial also offers the Priority Pay(SM) Service. This service allows seniors to enjoy their retirement with complete peace of mind -- knowing that they will never miss paying a critical bill.

Each month, Golden Gateway Financial acts as a personal assistant by assuming responsibility for paying the critical bills out of the reverse mortgage funds. Program participants can log in online to review payments or to add or remove the bills to be paid at any time. Email notification of bill payments is also available.

Borrowers who value their financial independence, but would like the security of a bill pay service, can rest assured that critical services will never be cancelled due to a missed payment.

For more information on these new services or to access Golden Gateway Financial's industry-leading suite of online retirement assessment tools and resources, please visit http://www.GoldenGateway.com.

About Golden Gateway Financial

Golden Gateway Financial, 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. Golden Gateway helps clients reduce money concerns and live better during what should be the best years of their lives. The company's recognized resources, online tools, and award winning calculators make it the intelligent choice for seniors and their families who want unbiased and clear communication, comparison shopping for a reverse mortgage or life settlement, and related services to help enjoy retirement. www.GoldenGateway.com.

About The Bancorp Payment Solutions Group

The Bancorp Payment Solutions Group, a division of The Bancorp Bank ("Bancorp"), a wholly owned subsidiary of The Bancorp, Inc. (NASDAQ: TBBK), offers secure, creative and innovative payment solutions to the prepaid card industry. As a leading issuer of prepaid cards, The Bancorp Payment Solutions Group contributes to the success of Fortune 500 companies through the development of cutting-edge prepaid card programs that meet the rapidly changing needs of the prepaid industry. Through long-standing relationships with the MasterCard, Visa, and Discover card associations, leading program managers and processors, The Bancorp Payment Solutions Group designs innovative and flexible prepaid card programs which deliver outstanding results. For more information about The Bancorp Payment Solutions Group please visit www.thebancorppsg.com.

The Golden Gateway Financial Your Money Card is issued by The Bancorp Bank pursuant to license from MasterCard International Incorporated. The Bancorp Bank; Member FDIC. MasterCard is a registered trademark of MasterCard International Incorporated.

(1) Javelin 2008 Consumer Identity Fraud Report

Contact Information: Press Contact: Michael Azzano Cosmo PR 415.596.1978