EXHIBIT 10.8


                       QUESTPOINT CHECK SERVICES AGREEMENT



     SERVICES  AGREEMENT  made as of this  1st day of  August,  1998  (Effective
Date),  by and between  QuestPoint  Check  Services,  L.P.,  a Delaware  limited
partnership   (QuestPoint)   and  Monmouth   Community   Bank   (Customer).   In
consideration  of the  payments  to be made and  services  performed  under this
Agreement  and for other good and  valuable  consideration  and  intending to be
legally bound, QuestPoint and Customer agree as follows:

     1. SERVICES.

     (a) Schedule A and Other Services. QuestPoint agrees to provide to Customer
the  QuestPoint  services  which are described in Schedule A  (Services).  Other
services  that are not  included  in Schedule A but which  Customer  request and
QuestPoint agrees to provide shall also be included within the definition of the
term Services.  QuestPoint may from time to time review and modify the Services,
including  changing  the  locations  used in  providing  the Services to improve
service  efficiency  or economy or to comply or enable  Customer  to comply with
applicable  federal and state laws,  rules and  regulations  and clearing  house
rules.  QuestPoint  will  give  Customer  prior  notice  of such  changes  which
materially affect Customer's  procedures,  deliveries or reporting.  If Customer
desires  to make  any  modifications  to the  Services,  Customer  shall  notify
QuestPoint of such desired  modifications  and QuestPoint shall promptly deliver
to  Customer  a proposal  describing  the  effect of such  modifications  on the
Services  and the fee to  Customer  for the  Services  as  amended.  If Customer
accepts  QuestPoint's  proposal and elects to implement the  modifications,  the
proposal shall be adopted as an amendment to this Agreement.

     (b)  Relationship  Manager.  Each party  shall  designate  an officer to be
responsible  for the  administration  of this  Agreement  on its  behalf and the
coordination of the performance by the parties of their  obligations  hereunder.
QuestPoint and Customer will cause such respective officers to be available from
time to time to confer with each other about this  Agreement and the delivery of
the Services.

     (c) Exclusivity.  During the term of this Agreement, Customer is prohibited
from  engaging a third  party  processor  other than  QuestPoint  to provide the
Services  and is  prohibited  from  performing  the  Services  itself  provided,
however,  that  QuestPoint  agrees to service the geographic area and processing
volumes that require Services.

     (d) Right to Bid. If during the terms of this Agreement  Customer  acquires
an entity which otherwise  receives  services similar to the Services,  Customer
shall notify  QuestPoint of such acquisition and allow QuestPoint an opportunity
to bid on providing the Services to the acquired entity.

     2. CUSTOMER RESPONSIBILITIES AND AUTHORIZATIONS. Customer agrees to perform
each of the Customer obligations and  responsibilities  described in Schedule A.
Customer  will  provide  at  its  own  expense  all   equipment,   programs  and
communication lines necessary to interface to QuestPoint's systems, programs and
equipment used from time to time in providing the Services.  Customer authorizes
QuestPoint to access any postal box  maintained  by Customer in connection  with
the  Services.  If the  Services  include  item  collection  services,  Customer



<PAGE>

authorizes  QuestPoint  to supply  the bank of first  deposit  endorsement,  any
missing  endorsement or otherwise endorse or stamp items for collection and take
all such action as Customer would be authorized to take to effect  collection on
behalf of Customer.  Customer shall  cooperate with QuestPoint in the completion
and  execution  of  forms  and  authorizations  as may be  necessary  to  permit
QuestPoint  to provide the Services.  Customer  consents to the placement of the
QuestPoint  logo or graphic symbol on any periodic  statements,  reports or data
displays prepared for Customer as part of the Services.

     3. CHARGES AND PAYMENT TERMS.

     (a) Schedule B and Other Charges. Customer agrees to pay QuestPoint for the
Services  as  provided  in  Schedule  B and  as  otherwise  mutually-agreed  for
additional  and  modified  Services  (Charges).  QuestPoint  will send  Customer
invoices  on a monthly  basis for  Services  rendered  (as for the  minimum  fee
provided  in  Section  3(b),  and  Charges  billed.  Invoices  shall be due upon
receipt.  A service charge at the rate of one and one-half  percent (1 1/2%) per
month (18% per annum)  shall accrue and be payable by Customer on the portion of
any invoice that remains  unpaid for more than thirty (30) days from the date of
the invoice.  Customer shall be responsible for payment of all taxes  applicable
to the Services that are measured  directly or indirectly by payments made under
this Agreement or that are otherwise required to be collected in connection with
the Services, excluding franchise, employment and property taxes and taxes based
on the net income of QuestPoint.  QuestPoint  may invoice  Customer for any such
taxes for which Customer is responsible.  Unless otherwise  provided in Schedule
B, the  Charges  on  Schedule  B may be  increased  by CPI  effective  the first
anniversary  date of this Agreement and anytime  thereafter if QuestPoint  sends
notice of the reasonable and  appropriate  modifications  to the Charges anytime
(i) for changes in the Services  required to comply with laws,  regulations  and
clearing house rules or deemed  necessary by QuestPoint to improve the Services,
and/or (ii) because of increase in costs to QuestPoint of providing the Services
provided  that any such  increase  in  Charges  is in direct  proportion  to the
increase  in such costs and  QuestPoint  provides  Customer  with  documentation
demonstrating  the increased  costs to QuestPoint.  Quest agrees to give written
notice to Customer of such  modifications  to the Charges as soon as  reasonably
practicable.

     (b)  Minimum  Charge.  The  minimum  monthly  Charge  shall  be  $1,500.00,
excluding  expenses  and Other  Charges  under  Schedule B. The minimum  monthly
charge  shall  begin  three (3)  months  after  the  Customer  begins  receiving
Services.

     4. CONFIDENTIALITY. QuestPoint and Customer each agree that all proprietary
or  confidential  information  (including,   without  limitation,  any  and  all
QuestPoint intellectual property,  pricing information and Services Information,
the terms and  conditions of this  Agreement and Customer  information  which is
designated  as  confidential)  communicated  to one  party by the  other  party,
whether  before  or  after  the  date of this  Agreement,  will be  received  in
confidence,  and will not be  disclosed  by the  receiving  party,  its  agents,
subcontractors  or employees,  without prior written  consent of the  disclosing
party,  except  as may be  required  by  QuestPoint  in the  performance  of the
authorities  having  jurisdiction over Customer or QuestPoint,  a business or as
may be  otherwise  be  required by law.  Each party  receiving  confidential  or
proprietary information from the other party shall take all reasonable steps and
precautions to ensure that only those of its officers,  employees subcontractors
and  permitted

                                       2
<PAGE>

agents with a need to know or a need to have access to such  information  solely
in  connection  with the  performance  of this  Agreement  have  access  to such
information,  and that each such person shall keep the information  confidential
in accordance  with the  provisions of this Section 4. In no event will Customer
divulge any QuestPoint proprietary or confidential information to any competitor
of  QuestPoint  or use it to compete with  QuestPoint.  The  provisions  of this
Section  4 shall  survive  the  termination  of  this  Agreement.  The  Customer
acknowledges  and agrees that the remedy at law for any breach of the provisions
of this Section 4 will be  inadequate  and that  QuestPoint,  in addition to any
other  relief  available to it,  shall be entitled to  temporary  and  permanent
injunctive relief without the necessity of proving actual damages.

     5. REPRESENTATION AND WARRANTIES.

     (a) Customer represents, warrants and agrees that (i) it has good title and
ownership of all checks, cash and other items and information to be collected or
received by  QuestPoint,  (ii) it shall pay,  when due, all Charges  invoiced by
QuestPoint  in  accordance  with  this  Agreement,  (iii) it is duly  organized,
validly  existing and in good standing under the laws of the jurisdiction of its
organization  and that it has all  requisite  power and  authority to enter into
this Agreement and [TEXT MISSING]

ALL  WARRANTIES   WITH  RESPECT  TO  THE  AGREEMENT,   SERVICES  AND  QUESTPOINT
INTELLECTUAL  PROPERTY,  INCLUDING,  BUT NOT  LIMITED  TO,  EXPRESS  AND IMPLIED
WARRANTIES  OF  MERCHANTABILITY,  FITNESS  FOR  A  PARTICULAR  PURPOSE  AND  ALL
WARRANTIES  UNDER THE PROVISIONS OF THE UNIFORM  COMMERCIAL CODE RELATING TO THE
TRANSFER  AND  PRESENTMENT  OF CHECKS AND ITEMS,  THE  ACCEPTANCE,  HANDLING AND
PROCESSING  OR ANY  CHECKS  OR  OTHER  ITEMS  UNDER  THIS  AGREEMENT  SHALL  NOT
CONSTITUTE  OR BE CONSTRUED AS THE MAKING OF A WARRANTY OF ANY KIND BY QUESTPONT
ON BEHALF OF OR TO  CUSTOMER  OR TO ANY THIRD  PARTY  WITH  RESPECT  TO ANY SUCH
CHECKS OR ITEMS.

     6. LIABILITY LIMITATION AND INDEMNITY.

     (a) Customers  Remedy.  The liability of QuestPoint  for any and all actual
loss  incurred  during any Contract  Year (as  hereinafter  defined)  will never
exceed a total amount equal to the Monthly  Average  Charge paid to  QuestPoint.
The term Monthly Average Charge as used in this Section 6(a) shall be determined
by totaling the monthly  Charges for Customer  occurring  over the Contract Year
immediately  preceding the events  leading to the actual loss, and dividing such
total by 12 (or if 12 months have not yet elapsed after the Effective  Date, the
monthly  average of fees paid to QuestPoint  for the months that this  Agreement
has been in effect  following the Effective  Date).  The monthly Charges used to
calculate the Monthly  Average  Charge shall exclude  expenses and Other Charges
under  Schedule  B.  Customer  shall  provide   QuestPoint  with   documentation
sufficient to demonstrate  any loss actually  incurred by Customer and for which
Customer seeks damages from QuestPoint and which also demonstrates that the loss
was  caused by  QuestPoint.  QuestPoint  shall not be  responsible  for any loss
incurred by  Customer  from a claim that is settled or  compromised  by Customer
without  the prior  written  approval of rights and  remedies  of Customer  with
respect to any claim for loss that is paid by

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<PAGE>

QuestPoint.  The term  Contract  Year  refers to the twelve  (12)  month  period
immediately after the Effective Date and each anniversary date thereafter.

     (b) No Liability for Consequential  Damages. In no event will QuestPoint be
liable to Customer or to any third party for any  indirect,  special,  punitive,
incidental,  consequential or compensatory losses,  damages, claims or causes of
action,  including,  but not  limited  to,  those  arising  from loss of data or
profits  or any  other  economic  loss,  even if  QuestPoint  was  aware  of the
possibility of such damages.

     (c) Liquidated Damages;  No Right of Set-Off.  The remedies provided for in
this  Section 6 are  liquidated  damages  and  Customer  agrees  to accept  such
remedies in full and  complete  satisfaction  of any and all claims or causes of
action  for  losses  or  damages  which  it may  have  against  QuestPoint,  its
affiliates,   directors,   officers,  employees,  agents  or  subcontractors  in
connection with this Agreement and the Services,  at law or in equity.  Customer
shall not  withhold,  reduce or adjust any payment  required  by this  Agreement
because of any performance-related claim or cause of action.

     (d)  Customer  Indemnity  of  QuestPoint.  In the  event of any  breach  by
Customer of this Agreement or material  misrepresentation or omission,  Customer
agrees to indemnify  QuestPoint  and hold  QuestPoint  harmless from any and all
damages,  claims and/or losses  resulting  from or related to any such breach or
material   misrepresentation   or  omission,   including,   without  limitation,
reasonable attorney's fees and expenses, incurred by QuestPoint. Customer agrees
to indemnify, defend and hold QuestPoint and its directors, officers, agents and
affiliates  harmless  from and  against  all  damages,  liabilities,  costs  and
expenses, including without limitation, reasonable attorneys' fees and expenses,
arising from any claim or action by a third party arising out of or with respect
to this Agreement or the Services.

     (e)  Force  Majeure.  Notwithstanding  anything  in this  Agreement  to the
contrary,  QuestPoint will not be liable for any failure or delay in performance
which is  attributable  to acts or events  (including  but not  limited  to war,
conditions  or  events of  nature,  civil  disturbances,  work  stoppage,  power
failures,  fires or acts or  omissions of the U.S.  Postal  Service or any other
third  party,   or  increases  in   processing   volumes   because  or  mergers,
acquisitions,  consolidations  on other  business  activities  of Customer  that
exceed the capacity of QuestPoint to handle such  volumes)  beyond  QuestPoint's
control.  Customer shall use its best efforts to notify  QuestPoint  promptly of
changes  in  business  activities  that might  cause  material  fluctuations  in
processing  volumes.  Processing volumes in excess of the capacity of QuestPoint
shall be processed as mutually-agreed between the parties.

     (f) Customer's sole and exclusive recourse and remedy for any loss shall be
as set forth in this Section 6. The indemnification  obligations of this Section
6 shall survive the termination of this Agreement.

     7. TERMS AND TERMINATION.  This Agreement shall be effective for an initial
term of five (5) years  beginning on the Effective  Date.  This Agreement  shall
automatically  renew for additional one (1) year terms provided,  however,  that
either party may terminate  this  Agreement  effective as of the sixty (60) days
prior to the end of the then current term. This Agreement may also be terminated
immediately (i) by QuestPoint at any time if Customer defaults in the

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<PAGE>

payment  ofany  Charges,  (ii) by either  party if the other  party  breaches  a
material  obligation  under  this  Agreement  and  such  other  party  fails  to
substantially  cure such default within thirty (30) days after receiving written
notice of the default or, for those  defaults not capable of cure within  thirty
(30) days,  fails to promptly  commence  curing such default  within thirty (30)
days,  (iii) by either  party if the other party  becomes  insolvent or makes an
assignment for the benefit of creditors,  voluntary or  involuntary  proceedings
are instituted under any bankruptcy or insolvency law against the other party or
a receiver or custodian is appointed for the other party, or (iv) by Customer at
any time upon at least thirty (30) days prior written notice.

     If this Agreement is terminated by QuestPoint  under Section 7(i),  (ii) or
(iii) above or at the request of Customer  under Section  7(iv) above,  Customer
shall pay  QuestPoint  an amount equal to the number of months  remaining in the
then current  terms of this  Agreement  times the greater of (i) eighty  percent
(80%) times the total amount  payable on the invoice with the highest  charge in
the then current term, or (ii) the minimum charge from Section 3(b). Such amount
must be paid before the date of  termination  and release of any data,  tapes or
other Customer information. Such payment shall be in addition to and not in lieu
of all other  amounts  due  QuestPoint  and all costs  and  expenses  reasonably
incurred by QuestPoint in connection with such termination  (including,  without
limitation,  costs and  expenses  incurred in winding down and  terminating  the
Services).  The  termination  payment does not apply if the basis for Customer's
termination  is due to the default of  QuestPoint  under  Section 7(ii) or (iii)
above.

     8. ERROR  REPORTING.  Customer is  responsible  for promptly (i)  reviewing
invoices  for Charges and other  information  provided  by  QuestPoint  and (ii)
reporting to QuestPoint in writing any errors caused by QuestPoint. In the event
of any material error in any report or delay in any  transmission by QuestPoint,
QuestPoint  will  correct the report no later than fifteen  (15)  business  days
after  QuestPoint has received written notice of such error, or in the case of a
delay of a transmission,  exercise such diligence as the circumstances  require.
Customer will reimburse QuestPoint for any remedial action taken with respect to
any errors  caused by Customer,  including any error caused by failure to follow
QuestPoint's procedures.

     9. NOTICE. For purposes of this Agreement,  written notice is sufficient if
personally  delivered  or  sent  by  nationally   recognized  overnight  courier
services,  or sent by  registered or certified  mail,  postage  prepaid,  return
receipt  requested,  addressed to either party at the address  below (or at such
other  address a party  shall  designate  by notice to the other  party given in
accordance  with this Section 9). Notice shall be deemed to have been given when
received by the addressee in accordance with the mailing method  described above
or when personally delivered.

     10.  OWNERSHIP OF  INTELLECTUAL  PROPERTY.  Except with respect to software
licensed by QuestPoint from third parties,  QuestPoint owns all right, title and
interest, including the copyright in and to any QuestPoint intellectual property
used  in  providing  Services  and in and to any  modification,  enhancement  or
addition to any QuestPoint  intellectual  property  developed in connection with
any Services  requested by Customer.  QuestPoint shall have the right to use any
such  QuestPoint  intellectual  property  for  other  customers  of  QuestPoint.
Customers  shall have the right to use the  intellectual  property  provided  to
Customer  by  QuestPoint,  including  by way of example  software  programs  and
documentation,  solely in connection with the Services.  Customer agrees that it
shall  not copy or  distribute  such

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<PAGE>

intellectual  property  without the prior written  permission of QuestPoint  and
shall  take  all  reasonable  steps  to  prevent   unauthorized   access  to  or
reproduction or dissemination of such intellectual  property.  At the request of
QuestPoint,  Customer  shall  return to  QuestPoint  all  intellectual  property
provided  by  QuestPoint.  The  terms  of this  Section  10  shall  survive  the
termination of this Agreement.

     11.  AFFILIATED  INSTITUTIONS.  QuestPoint  shall provide  Customer with an
addendum for  execution by  affiliates of Customer that desire to receive and to
which   QuestPoint   agrees  to   provide   Services   under   this   Agreement.
Notwithstanding the foregoing, QuestPoint has the right, but not the obligation,
to rely  solely  upon  Customer  for the  satisfaction  or  performance  of this
Agreement by the Customer and each Customer  affiliate.  Each Customer affiliate
will  also at all  times be  liable  for its  share of this  amount  due for the
Services that are allocated to the  affiliate  and  QuestPoint  may enforce this
Agreement  against any affiliate  directly for its pro rata share of any amounts
due for Services and for any breach thereof.

     12.  AUDITS.  QuestPoint  will allow  federal  and state  governmental  and
banking  authorities having jurisdiction over Customer's business to have access
to the records of Customers held by QuestPoint.

     13.  GOVERNING  LAW,  SUBMISSION  TO  JURISDICTION;   VENUE;  JURY  WAIVER;
LIMITATION  ON ACTIONS.  This  Agreement  shall be  construed,  interpreted  and
enforced in accordance  with, and governed by, the laws of the  Commonwealth  of
Pennsylvania,  without regard to conflicts of law principles.  The parties agree
that  any  dispute  or claim  under  this  Agreement  shall  be  subject  to the
jurisdiction of and shall be brought in the courts in Philadelphia, Pennsylvania
and each of the parties agrees that service of any process,  summons,  notice or
document  by U.S.  registered  mail or  certified  mail to the address set forth
below (or to any other address given in accordance  with the terms of Section 9)
shall be effective service of process for any action, suit or proceeding brought
against such party in enforcing  any rights  hereunder.  Each of this parties to
this  Agreement  hereby  irrevocably  waives all right to a trial by jury in any
action,  proceeding or counterclaim arising out of or relating to this Agreement
or the transactions  contemplated hereby.  Customer may not institute any action
arising out of the Services or this  Agreement  more than one (1) year after the
occurrence of an incident giving rise to a cause of action.

     14. [INTENTIONALLY OMITTED]

     15. MISCELLANEOUS.  This Agreement consists of the terms and conditions set
forth in this  document and in Schedule A and B, and where added by  amendments,
any additions, changes or modifications to this Agreement and/or Schedules, each
of which shall be duly executed by the parties.  Each party acknowledges that it
has read this  Agreement,  understands  it, and  agrees to be bound by it.  This
Agreement,  together  with all  Schedules,  constitutes  the complete and entire
understanding  and agreement between Customer and QuestPoint with respect to the
subject  matters  hereof and  supersedes  and replaces all prior  agreements and
understandings,  oral and written,  with respect to such  subject  matters.  All
addenda,  appendices,  and  schedules  referred to herein  shall be deemed to be
incorporated into and made a part of this Agreement. QuestPoint has the right to
assign  and  transfer  this  Agreement,  in whole or in part,  to any  person or
entity. This Agreement shall be binding upon

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<PAGE>

successors and assigns.  QuestPoint is not prohibited from subcontracting any of
the services  provided under this Agreement.  If any provision of this Agreement
is invalid or unenforceable for any reason,  the balance of this Agreement shall
remain in effect.  The failure of a party to insist upon strict adherence to any
term of this  Agreement on any occasion  shall not be considered a waiver of the
right  thereafter to insist upon strict adherence to that term or any other term
of this  Agreement.  The  section  headings  of this  Agreement  are  solely for
convenience of reference and shall not affect the interpretation of the terms of
this Agreement.

     IN WITNESS  WHEREOF,  the parties  hereto have executed this  Agreement (or
have done so in several counterparts, each of which shall be deemed an original)
as of the date first above written.

QUESTPOINT CHECK SERVICES, L.P.     MONMOUTH COMMUNITY BANK
                                              (CUSTOMER)



By:  /s/ Lowell Moritz                By: /s/ Hollie Pumosa
     ---------------------------         --------------------------
         Authorized Signature                 Authorized Signature

         Lowell Moritz, V.P.                  Hollie Pumosa, S.V.P

Address:                              Address:

401 Market Street                     627 Second Avenue
Philadelphia, PA  19106               P.O. Box 630
                                      Long Branch, NJ  07740-0630




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<PAGE>

                             QUESTPOINT CHECK SERVICES AGREEMENT
                                          SCHEDULE A
                                           SERVICES

I.   QUESTPOINT IMPLEMENTATION SERVICES

     Implementation Plan. Customer and QuestPoint shall mutually proceed in good
     faith  (I) to  promptly  develop  a  detailed  plan for the  conversion  of
     Customer to the Services  selected by  Customer,  (ii) to define a schedule
     mutually  acceptable  to  Customer  and  QuestPoint  for  the  training  of
     Customer's  personnel with respect to such  conversion and the Services and
     for  implementation  and completion of the conversion,  and (iii) to define
     the hours,  timing and costs  associated  with  services  to be provided by
     QuestPoint regarding such activities.


II.  DESCRIPTION OF SERVICES

<TABLE>
<CAPTION>

--------------------------- ---------------------------------- -------------------------------
SERVICE                     PRODUCT DESCRIPTION                       SERVICE PROVIDED
                            CHECK PROCESSING
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
<S>                         <C>                                <C>
Inclearing                  Items received from external       The preparation of work for
Intercept                   sources and transmitted to the     the reader-sorter area.  The
                            respective client institution to   capture and exception pass
                            be incorporated into their         through the reader-sorter
                            posting process (on-us items).     settlement of the passes.
                            Inclearing items can be received   The remaining item passes
                            from FRB, Clearinghouses, Direct   required would be related to
                            Presentment and Same-Day           cycle, serial and account
                            Presentment                        sorting are not included.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
Proof Encoded               Items received through a           Includes the batching of work
                            customer's branch which require    for encoding, encoding of
                            MICR encoding of amount or         item, adjustments.
                            account number.  Items requiring
                            encoding, balancing of checks,
                            deposit tickets, coupons and
                            internal documents.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
Proof Corrections           A product of the proof encoding    The creation of the
                            function.  The creation of the     accounting entry to the
                            accounting entry for deposits      customer's accounting system
                            which do not settle to the         and the mail advise to the
                            deposit ticket provided            customer's client.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
</TABLE>


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<PAGE>

<TABLE>
<CAPTION>

--------------------------- ---------------------------------- -------------------------------
SERVICE                     PRODUCT DESCRIPTION                       SERVICE PROVIDED
                            CHECK PROCESSING
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
<S>                         <C>                                <C>
Capture/POD                 Subsequent to POD processing,      Items will be processed
                            encoded items will be processed    through high-speed reader
                            via high speed reader sorters.     sorters.  MICR data and the
                            MICR Data will be captured for     concurrent sorting and
                            further processing,                microfilming of items will
                            microfilming, audit and tracing    occur.  Items will be
                                                               appropriately edited,
                                                               checked, settled and
                                                               transmitted.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
Return Item Processing      Items drawn on a customer which    After exception processing
                            have not been charged to the       polls occur and a payment
                            drawn-on account and will be       decision is made, the
                            returned to the Bank of First      processing of the item by
                            Deposit                            identifying the BOFD.  This
                                                               service does not include
                                                               notification.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
Qualify Returns             The preparation of an item for     Prior to the return of the
                            the Return process.                check to the BOFD, a MICR
                                                               strip is attached to each
                                                               item.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
Chargebacks                 Items deposited by customer's      Upon receipt, each item is
                            client which have been presented   charged to the account number
                            to the paying institution on       endorsed on the back of the
                            which payment have been declined.  check.  The mail advice is
                                                               created by the Customer's
                                                               host system.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
Cycle Sort                  The capture and sorting of a       The sorting of a customer
                            customer's bulk file items into    on-us items into their
                            cycle order.  Items are bulk       appropriate bulk file
                            filed daily.  Does not include     statement sequence as defined
                            the out of pocket transportation   by the customer.
                            charges.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
Statement Mail              Includes the receipt of customer   Printing of statement,
                            formatted demand files, the        orientation of checks to
                            matching of checks to the          statement, stuffing of
                            financial data, and the            statement and checks into the
                            enclosing, monitoring and          envelopes, postage will be
                            mailing of customer's statement.   applied and prepared for
                                                               mailing.  (Postage is not
                                                               included).
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
</TABLE>


                                       9
<PAGE>

<TABLE>
<CAPTION>

--------------------------- ---------------------------------- -------------------------------
SERVICE                     PRODUCT DESCRIPTION                       SERVICE PROVIDED
                            CHECK PROCESSING
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
<S>                         <C>                                <C>
Statement Enclosure         The sorting of a customer's        Upon receipt of a customer
                            checks into account number on      statement file, items will be
                            the appropriate cycle day. In a    sorted into account number
                            non-bulkfile environment, this     order within the appropriate
                            may be daily.  If items are        days statement.
                            delivered to the client, does
                            not include the out-of-pocket
                            transportation charges.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
Statement Filming           The creation of a microfilm copy   During the Statement
                            of checks sorted for each          Enclosure process, each check
                            cycle.  Items are microfilmed as   sorted will be microfilmed as
                            part of the Statement Enclosure    the item is sorted into
                            process.                           account number sequence.  A
                                                               copy of microfilm will be
                                                               provided to the customer.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
Other Mail                  The insertion, metering and        Printed notices and forms
                            mailing of other forms or          will be delivered to the
                            notices into the appropriate       appropriate location.  Items
                            customers envelope.                will be enclosed, postage
                                                               applied and prepared for
                                                               mailing (Postage is not
                                                               included).
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
Exception Item Process      Items which the customer           Sending actual items to
                            identifies as exception items      customer and getting item
                            and require review prior to the    back from customer once
                            finalizing of payment.  Items      decision is made.
                            which contribute to demand
                            deposit overdraft, uncollected
                            funds, items on which customer's
                            client has issued stop payment
                            orders, items which cannot be
                            posted for other reasons.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
Item Retrieval              The retrieval of an original       The manual retrieval of the
                            item from either bulk file or      physical check from the check
                            account sorted files.              files.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
Photo copies                The retrieval and mailing of a     Includes locating the item on
                            photocopy of a requested check     microfilm and sending a copy
                            to the customer or their client.   to the customer or their
                                                               client.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
</TABLE>

                                       10
<PAGE>

<TABLE>
<CAPTION>

--------------------------- ---------------------------------- -------------------------------
SERVICE                     PRODUCT DESCRIPTION                       SERVICE PROVIDED
                            CHECK PROCESSING
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
<S>                         <C>                                <C>
Warehousing (60 Days)       The storage of a customer's        Storage of physical checks
                            checks for the specified period    for a period of time.  The
                            of time.  Items are destroyed      time period of safekeeping
                            after the appropriate retention    varies.  Each customer
                            period expires.                    requirements will be
                                                               defined.  Includes all items
                                                               60 day under & over.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
Warehousing                 The storage of a customer's        Storage of physical checks
(Over 60 Days)              checks for the specified period    for a period of time.  The
                            of time.  Items are destroyed      time period of safekeeping
                            after the appropriate retention    varies.  Each customers
                            period expires.                    requirements will be
                                                               defined.  Includes all items
                                                               60 day under & over.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
Postage                     The actual postage expense         The assignment of the
                            affixed as part of the mailing     appropriate postage expense
                            of customers statements.           to a client's statement
                                                               envelope.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
OTC Integration             On-us Items cashed over the        The integration into the
                            teller window or received as       appropriate bulk tile or
                            over the counter deposits which    account filed position of
                            are delivered by the customer      on-us items received as over
                            for off-line processing.           the counter items.
--------------------------- ---------------------------------- -------------------------------
--------------------------- ---------------------------------- -------------------------------
Statement Envelopes         The utilization of a generic       The use of a generic
                            statement envelope supplied in     statement envelope as part of
                            lieu of the customers specific     the statement enclosing
                            statement envelope.                process.
--------------------------- ---------------------------------- -------------------------------
</TABLE>

                                            * * *

     IT WITNESS WHEREOF,  the undersigned  parties hereby  acknowledge and agree
that  this  Schedule  A is a  part  of  and  incorporated  by  reference  in the
QuestPoint  Services  Agreement between the parties dated August 1, 1998 and the
parties have executed this Schedule A (or have done so in several  counterparts,
each of which shall be deemed an original) as of such date.



QUESTPOINT CHECK SERVICES, L.P.     MONMOUTH COMMUNITY BANK
                                    (CUSTOMER)



By:     /s/ Lowell Moritz               By:    /s/ Hollie Pumosa
   ------------------------------       -----------------------------------
        Authorized Signature                       Authorized Signature
        Lowell Moritz, V.P.                        Hollie Pumosa, S.V.P.


                                       11
<PAGE>


                       QUESTPOINT CHECK SERVICES AGREEMENT
                                   SCHEDULE B
                         CHARGES FOR QUESTPOINT SERVICES

I. SERVICE CHARGES. Customer agrees to pay QuestPoint for the Service as
   follows:

        A.   QUESTPOINT IMPLEMENTATION SERVICES

             One time fee of $10,000.

        B.   QUESTPOINT SERVICES

------------------------------------------------- ----------------------------
                                                   Unit Price
                                                   ----------
------------------------------------------------- ----------------------------
POD SERVICES
------------
------------------------------------------------- ----------------------------
    Proof of Transit (Image Capture)                  0.04500
------------------------------------------------- ----------------------------
    Proof of Deposit (Image Capture)                  0.05000
------------------------------------------------- ----------------------------
    Proof Corrections                                 1.00000
------------------------------------------------- ----------------------------

------------------------------------------------- ----------------------------
INCLEARING SERVICES
-------------------
------------------------------------------------- ----------------------------
    Inclearing Intercept (Image Capture)              0.02250
------------------------------------------------- ----------------------------
    Exception Item Process (per day)                 20.00000
------------------------------------------------- ----------------------------

------------------------------------------------- ----------------------------
RETURN PROCESSING
-----------------
------------------------------------------------- ----------------------------
    Return Item Processing (NSF)                      2.25000
------------------------------------------------- ----------------------------
    Quality Returns                                   0.40000
------------------------------------------------- ----------------------------

------------------------------------------------- ----------------------------
IMAGE STATEMENTING
------------------
------------------------------------------------- ----------------------------
    Statement Mail (per account)                      0.06000
------------------------------------------------- ----------------------------
    Laser Print (per page)                            0.08500
      Includes Printing, Form &
        Customer Logo
------------------------------------------------- ----------------------------
    Statement Envelope (per envelope)                 0.02000
------------------------------------------------- ----------------------------
    Statement Filming                                 0.00180
------------------------------------------------- ----------------------------

------------------------------------------------- ----------------------------
CONVENTIONAL STATEMENTING
-------------------------
------------------------------------------------- ----------------------------

------------------------------------------------- ----------------------------
    Statement Mail (per account)                      0.06000
------------------------------------------------- ----------------------------
    Laser Print (per page)                            0.02000
------------------------------------------------- ----------------------------
    Check Inserts                                     0.01250
------------------------------------------------- ----------------------------
    Other Inserts (first insert is free)              0.01000
------------------------------------------------- ----------------------------
    Cycle Sort                                      No Charge
------------------------------------------------- ----------------------------
    Account Sort                                      0.01250
------------------------------------------------- ----------------------------
    Customer Logo (as required)                       0.00500
------------------------------------------------- ----------------------------
    Statement Filming                                 0.00180
------------------------------------------------- ----------------------------

                                       12
<PAGE>

------------------------------------------------- ----------------------------
CHECK DISTRIBUTION SERVICES
---------------------------
------------------------------------------------- ----------------------------

------------------------------------------------- ----------------------------
    Cycle Sort                                        0.00750
------------------------------------------------- ----------------------------
    Statement Enclosure/Item                          0.01250
------------------------------------------------- ----------------------------
    Serial Sorting                                    0.02000
------------------------------------------------- ----------------------------
    Warehouse (60 Days)                             No charge
------------------------------------------------- ----------------------------
    Warehouse (>60 Days/Month)                      25.00000
------------------------------------------------- ----------------------------
    Item Retrieval                                    1.50000
------------------------------------------------- ----------------------------
    Remote Banker (monthly)                       300.00000
------------------------------------------------- ----------------------------
    OTC Integration/Item                              0.01000
------------------------------------------------- ----------------------------

------------------------------------------------- ----------------------------
OTHER SERVICES
---------------
------------------------------------------------- ----------------------------

------------------------------------------------- ----------------------------
    Check Photocopy (per item)                        1.50000
------------------------------------------------- ----------------------------
    Postage                                        Usage
------------------------------------------------- ----------------------------
    Facsimile                                         1.50000
------------------------------------------------- ----------------------------
    Transportation from FED NY to Westmont           15.00000
------------------------------------------------- ----------------------------
    Transportation from Westmont to FED Phil          5.00000
------------------------------------------------- ----------------------------
    CD ROM                                           14.00000
------------------------------------------------- ----------------------------
    Cycle Sort for Image Statements                 No Charge
------------------------------------------------- ----------------------------
    CD Viewing software per workstation              25.00000
------------------------------------------------- ----------------------------
    GE Sorting                                        0.02000
------------------------------------------------- ----------------------------
    Other Mail                                        0.04000
------------------------------------------------- ----------------------------

     C.   OTHER CHARGES.  The Charges for the following are subject to change at
          any time.

     (1)  Delivery  and  Mailing   Costs.   All  costs,   expenses  and  charges
          attributable  to (i)  the  sorting,  mailing  and/or  transmission  of
          Reports or other  output to  Customer or its  designees,  and (ii) the
          transportation,   transmission  or  delivery  of  Reports,  and  other
          materials  between the  facilities of QuestPoint at which the Services
          are provided and the designated  pick-up locations and delivery points
          of  Customer  (other  than  routine  courier  services  to the  extent
          included in the Standard Services).

     (2)  Customer  Requests.  All  costs,  expenses  and  charges  incurred  by
          QuestPoint  at  Customer's  request,  including  costs,  expenses  and
          charges attributable to travel,  photocopy and data and record storage
          and retrieval,  to the extent such costs,  expenses and charges may be
          billed by QuestPoint.

     (3)  Statements.  All  costs,  expenses  and  charges  attributable  to the
          supplies and postage use, purchased or incurred in the preparation and
          mailing of periodic  statements  to customers  of Customer,  including
          paper stock, envelopes, inserts and postage.


                                       13
<PAGE>


     (4)  Clearing Charges. All Federal Reserve Bank, clearing house, regulatory
          agency and other third-party clearing charges, and all costs, expenses
          and charges attributable to such charges.

     (5)  Communication  Lines. All costs,  expenses and charges attributable to
          the provision and maintenance of the communications  lines utilized in
          providing the Services to Customer.

     (6)  Software,  Hardware  and  Other  Equipment.  The  charges,  costs  and
          expenses for software licensing and customization,  hardware and other
          equipment.  The rate for computer  programmer  services is $125.00 per
          hour for the first year of the Agreement  term.  Thereafter,  the rate
          for  computer  programmer  services  may be increased at a rate not to
          exceed the  percentage  increase in the Consumer  Price Index over the
          prior year as reported by the U.S. Department of Labor Bureau of Labor
          Statistics for All Items for All Urban Consumers.

     (7)  Expense  Reimbursement.  Reasonable  travel  and  other  out-of-pocket
          expenses that are actually incurred with respect to the implementation
          services, training and performance of the services.

                                      * * *

     IT WITNESS WHEREOF,  the undersigned  parties hereby  acknowledge and agree
that  this  Schedule  B is a  part  of  and  incorporated  by  reference  in the
QuestPoint  Services  Agreement between the parties dated August 1, 1998 and the
parties have executed this Schedule B (or have done so in several  counterparts,
each of which shall be deemed an original) as of such date.



QUESTPOINT CHECK SERVICES, L.P.     MONMOUTH COMMUNITY BANK
                                    (CUSTOMER)



By:     /s/ Lowell Moritz                By:  /s/ Hollie Pumosa
     ---------------------------         --------------------------------
            Authorized Signature              Authorized Signature

            Lowell Moritz, V.P.               Hollie Pumosa, S.V.P.




                                       14
<PAGE>