Self Directed IRA Services, Inc. Selected By Leading Personal Loan Investment Platform

AUSTIN, Texas, Jan. 27, 2011 /PRNewswire/ -- Self Directed IRA Services, Inc. (SDIRA Services), a wholly-owned subsidiary of Horizon Bank, was recently selected by Lending Club, a leading platform for investing in personal loans, to serve as the custodian for its investors' Individual Retirement Accounts (IRAs).SDIRA Services provides administration and custody of alternative and traditional assets in self directed IRAs for individuals and small businesses nationwide. As the IRA custodian, SDIRA Services will provide IRA services for Lending Club's investors that wish to invest in Lending Club's online peer-to-peer lending program using their retirement funds.

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Through Lending Club's peer investing network and online platform, investors and creditworthy borrowers are brought together to find the best rates and offers without having to visit a traditional bank. According to Lending Club, their Prime Consumer Notes have returned a net annualized return of 9.68% as of January 26, 2011 and all IRAs invested solely in Prime Consumer Notes on the Lending Club platform have had positive returns.  Investors with a balance of at least $5,000 in the first year, or $10,000 in the second year and beyond, will have their IRA fees paid by Lending Club.

SDIRA Services specializes in allowing a wide range of investment vehicles while offering customers the ability to rollover a 401(k), pension or retirement plan, or transfer an existing IRA into a self directed IRA, creating more flexibility and investment options for their customers.  Through SDIRA Services, IRAs may diversify within a wide range of investment options including:

• Real Estate
• Precious Metals
• Trust Deeds and Mortgage Notes
• Oil and Gas Investments
• Private Equity Placements
• Stocks and Mutual Funds
• Real Estate Investment Trusts
• Limited Partnerships
• Limited Liability Companies
• Promissory Notes
• Corporate Debt

"We are very excited to have the opportunity to provide our services to Lending Club's investors.  Providing IRA custody services for alternative investments such as Lending Club's is our core focus and we have the processes and expertise in place to handle their IRA investors' needs," said Kelli Click, president of SDIRA Services. "SDIRA Services believes alternative investments have a firm place in the pursuit of building wealth.  A self directed IRA provides individuals the opportunity to diversify their retirement portfolio.  Through our relationship with Lending Club, its investors now have an option for building wealth in their retirement portfolio on a tax-deferred or tax-free basis."

"We believe that a Lending Club IRA is an ideal investment vehicle for investors saving for retirement," said Renaud Laplanche, CEO of Lending Club. "Our IRAs can give investors the steady returns, flexibility and diversity they're seeking."

To meet the federal deadline for the 2010 tax season, IRA contributions must be postmarked to the IRA custodian by April 18, 2011. A Lending Club IRA can be opened in minutes online at https://www.lendingclub.com/sdIRA/registerSDIRA.action

SDIRA Services was established in 2008 and has over $100M of alternative and traditional assets under custody.  The company is headquartered in Austin, TX with a second office in Waco, TX.

For more information regarding Self Directed IRA Services, Inc. please visit www.sdiraservices.com.

About SDIRA Services

Self Directed IRA Services, Inc. (SDIRA Services) is an IRA custodian that specializes in holding alternative and traditional assets in self directed IRAs for individuals and small businesses nationwide. SDIRA Services supports a wide range of alternative investment vehicles within its Traditional, Roth, SEP and SIMPLE IRA accounts, including: real estate, trust deeds, mortgage notes, precious metals, promissory notes, closely-held stocks, private limited partnerships, limited liability companies and more. Headquartered in Austin, TX, SDIRA Services was established in 2008 as a subsidiary of Horizon Bank, a Texas savings bank with over a century of experience serving the Central Texas area.

About Lending Club

Lending Club is an online platform that enables the issuance of and investment in consumer loans.  Lending Club brings together investors and creditworthy borrowers -- eliminating the cost and complexity of traditional bank lending -- to offer borrowers better rates and investors better returns.  Lending Club was recently recognized as one of the 20 "Breakthrough Ideas for 2009" by Harvard Business Review, has been nominated for "Top 100 Innovators" by The Industry Standard, is on the JMP Hot 100 list, and the Always On Global 250 Top Private Companies list.  In addition Lending Club won the Webby Award in 2008 for the "Best Banking Website". Founded in 2006, Lending Club is headquartered in Redwood City, CA. More information is available at: http://www.lendingclub.com.

Currently only residents of the following states may invest in notes: CA, CO, CT, DE, FL, GA, HI, ID, IL, KY (accredited investors only), LA, ME, MN, MO, MS, MT, NH, NV, NY, RI, SC, SD, UT, VA, WA, WI, WV, or WY.  This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of Lending Club could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance or market share relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include governmental regulation, macroeconomic and geopolitical trends and events; the competitive pressures faced by Lending Club's businesses; the development and transition of new products and services (and the enhancement of existing products and services) to meet customer needs; the execution and performance of contracts by the company and its customers, suppliers and partners; the achievement of expected operational and financial results; and other risks that are described in Lending Club's filings with the Securities and Exchange Commission.  Lending Club assumes no obligation and does not intend to update these forward-looking statements.

Additional information about Lending Club is available in the prospectus for Lending Club's notes, which can be obtained on Lending Club's website at https://www.lendingclub.com/info/prospectus.action.

SOURCE Self Directed IRA Services, Inc.