Press Release

Firethorn Joins Forces with Pennsylvania State Employees Credit Union

Mobile Banking Application Will Provide Enhanced Experience for Members of One of Pennsylvania’s Largest Credit Unions

Firethorn Holdings, LLC, a wholly owned subsidiary of Qualcomm Incorporated (NASDAQ: QCOM), today announced that Pennsylvania State Employees Credit Union (PSECU) has joined its growing list of financial clients and recently began offering Firethorn’s mobile banking service to its more than 370,000 members. With $3.6 billion in credit union assets, PSECU is one the largest credit unions in the United States.

“PSECU maintains a branchless business model, so expanding into the mobile environment gives them a new opportunity to provide members with innovative and convenient services,” said Rocco Fabiano, president of Firethorn. “We look forward to evolving PSECU’s mobile commerce strategy and helping them to increase satisfaction among their members.”

The agreement between Firethorn and PSECU will enable PSECU members to manage their finances through Firethorn’s mobile banking service, as well as the PSECU-branded iPhone application. Using their mobile devices, PSECU members will be able to view their account balances, access their transaction histories, and transfer funds and pay bills.

“At PSECU, we have provided valuable tools and superior service to our members for more than 75 years,” said Gregory A. Smith, president of PSECU. “We’ve found that our members like the added convenience of managing their finances on the go. By using Firethorn’s mobile solution, they can access time-sensitive information from their mobile device at any time.”

PSECU is a not-for-profit financial institution that provides a full array of convenient, electronically delivered services at no or low cost. Chartered in 1933, PSECU is one of the nation’s largest credit unions. It serves more than 370,000 members and has more than $3 billion in assets. The membership of the said Credit Union will be limited to the employees of the Commonwealth of Pennsylvania; those employees eligible for membership in the State Employees’ Retirement System; those persons receiving a benefit allowance from the State Employees’ Retirement System; students and alumni of institutions of the State System of Higher Education; employees eligible for membership in the Public School Employees’ Retirement System and persons receiving a benefit allowance from the Public School Employees’ Retirement System; employees of local governments organized under the laws of the Commonwealth of Pennsylvania; with the prior approval of the Department of Banking, other occupational and associated groups as provided by law; the Select Employee Group (SEG) employer entity; employees of the Credit Union; members of the immediate families or households of the above persons; corporate or other legal entities in this charter; and exclusively for share services, organizations composed principally of the same groups as the Credit Union membership.
PSECU is federally insured by the National Credit Union Administration. Equal Opportunity Lender.

About Firethorn Holdings
Firethorn Holdings, LLC is an important participant in the mobile commerce ecosystem. With its mobile domain expertise, Firethorn is creating a fresh and exciting mobile revenue channel that will bridge relationships among consumers, retailers, wireless carriers and financial institutions. Firethorn’s innovative technology creates easily accessible, branded and personalized mobile commerce channels that give consumers access to their accounts, offers and transactions while on the go. For more information about Firethorn, visit


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