Threshold Financial Technologies Inc. to Provide Switching Services to British Columbia-based Credit Union

November 9, 2006 – Mississauga, Ontario -- Threshold Financial Technologies Inc. (Threshold) has announced that it has executed an agreement with Ladysmith & District Credit Union (LDCU) in Ladysmith, British Columbia (B.C.), to provide transaction processing and ATM driving services.

Threshold, a demonstrated leader in the payments industry, has differentiated itself in the financial transaction and ATM marketplace by specializing in the provision of high quality, fully managed POS and ATM network administration and switching solutions to Canadian financial institutions and corporate retailers. Threshold has been providing transaction processing solutions to Canadian Credit Unions for almost a decade. The recent introduction of Threshold’s switching services into Western Canada will allow credit unions, and their cardholders in British Columbia, to benefit from Threshold’s unique, customer-centric service offerings and considerable industry experience.

“We are very pleased to have been selected by LDCU as their switching services partner,” said Matthew McIver, President at Threshold. “Threshold has years of experience in the credit union market and we look forward to working with more B.C.-based financial institutions to provide our value-based, feature rich solutions.”

“Threshold has a solid reputation for providing quality, innovative and reliable transaction processing. Their demonstrated ability to combine service and reliability with new technology were major deciding factors for us. Also, their technical expertise and versatility, coupled with the fact that they have an EMV/Chip ready switching platform, resulted in our selecting them as our switching provider,” said Mr. John DeLeeuw, CEO, Ladysmith & District Credit Union. “We have experienced some tremendous growth in the past few years, and as such, we have had to analyze all our core processes to ensure we were getting the best value for ourselves and our members. After all the research was done, Threshold was the organization that showed it was the most capable of delivering that value.”


About Ladysmith & District Credit Union

Ladysmith & District Credit Union has been serving its community since 1944, developing strong relationships while being a fiscally sound shoulder that businesses and families have been able to lean on. The Credit Union’s mission to provide a service-driven financial experience has resonated within the community, resulting in Ladysmith winning the Business Examiner’s Best Financial Institution on Vancouver Island Award in 2001. The knowledgeable and professional staff delivering that superior service have enabled the Ladysmith & District Credit Union to become the largest financial institution serving the residents of Ladysmith. For more information, see www.ldcu.ca


About Threshold

Threshold Financial Technologies Inc. is a wholly owned subsidiary of Versent Corporation, a privately owned Canadian company with more than 850 employees throughout North America.

Threshold has been actively involved in the payments industry since 1997 and has existing corporate relationships with organizations such as Meridian Credit Union, Alterna Savings Credit Union, All Trans Financial Services Credit Union, ING Bank, St. Stanislaus-St. Casimir’s Polish Parishes Credit Union Limited, Amex Bank of Canada, Sobeys, A&P, Costco Wholesale Canada, and Husky Energy. For more information, see www.threshold-fti.com