IBAA Selects Equifax as Provider of Credit Reporting Products and Services

ATLANTA, March 6, 1996 -- The Independent Bankers Association of America, for the first time ever, has endorsed a credit reporting company and recommended it to its members. Leland M. Stenehjem, Jr., president of IBAA, announced that Equifax Credit Services is the provider for credit reporting products and services for the association. Stenehjem spoke at IBAA's convention this week in Las Vegas.

"Equifax has proven to be a true partner with IBAA and continues to provide quality products and services to our members," Stenehjem said. "I encourage all IBAA member institutions to take advantage of Equifax's expertise for their credit reporting needs." Equifax maintains credit histories on more than 190 million Americans. IBAA members will be able to purchase Equifax credit reports, in several formats, through a special association incentive program.

IBAA members already have other special programs with Equifax Payment Services for card processing and with Equifax National Decision Systems to help member banks comply with the Fair Lending Act and the Community Reinvestment Act.

Thomas F. Chapman, executive vice president and group executive, Equifax Financial Services Group, said, "Through our long-standing relationship with IBAA, we know the needs and requirements of its members. This endorsement is very gratifying, for it recognizes the value we place in partnering with our customers and using the resources of our several business units to provide a total solution."

IBAA is the only national association dedicated exclusively to the needs of the nation's community banks.

Equifax Credit Services, Payment Services and National Decision Systems are all business units of Equifax Financial Services Group. The parent company, Equifax Inc. (NYSE: EFX), committed to Global Information Leadership for the Information Age, is the leading provider of information services that help businesses grant credit, authorize and process credit card and check transactions, insure lives and property and control health care costs. Established in 1899 in Atlanta, Equifax today employs 14,000 peop le throughout North and South America, the United Kingdom and continental Europe. Revenues for the year ended Dec. 31, 1995, exceeded $1.6 billion.