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The National Credit Union Administration Board placed U.S. Central Federal Credit Union, Lenexa, Kansas, and Western Corporate (WesCorp) Federal Credit Union, San Dimas, California, into conservatorship to stabilize the corporate credit union system and resolve balance sheet issues on Friday, March 20, 2009. These two credit unions are corporate credit unions and do not serve consumers. Corporate credit unions are chartered to provide products and services to retail credit unions like Kemba. Kemba does not do business with U.S. Central Corporate Credit Union or Western Corporate Credit Union. There is no direct impact by NCUA’s action on Kemba members.

Credit unions that serve consumers, like Kemba, remain very strong. Nationally, the average net worth ratio for credit unions across the country exceeds 10 percent of assets. Kemba Credit Union remains even stronger with a net worth ratio that exceeds 13 percent of assets.

Your Kemba Credit Union deposits are federally insured up to at least $250,000 per account backed by the full faith and credit of the United States Government.

I would like to remind you that the action taken by NCUA has no impact on the members of Kemba Credit Union. Your credit union remains strong and healthy and ready to serve your needs. I would like to thank you for your continued support and dedication. If you would like to discuss the latest actions taken by NCUA, please call me directly at 513-762-5070.