Press Release

Lloyd Marbet 9/16/04

Integrity Returns to Columbia Credit Union

In a stunning victory, members of the “dissident” group Save Columbia Credit Union (SaveCCU), won all the open positions on the Board of Directors of Columbia Credit Union, as well as all the open positions on the credit union’s Supervisory Committee. A total of seven candidates were elected with the top vote getters, out of all the candidates, unseating all of the incumbents. Columbia Credit Union has a total of nine member on its’ Board of Directors and five Supervisory Committee members. Out of the total 7,232 members who voted, the following results were announced by Integrity Voting Systems, responsible for counting the ballots:

The results of this election demonstrate how a small group of concerned people can make a big difference for something they and others have long believed in. From the very beginning, members of SaveCCU struggled against great odds, but their persistence paid off. Not only were they instrumental in saving this credit union from being converted into a mutual bank, but they helped lead the way for what hopefully will be the adoption of new reforms in the credit union industry by the National Credit Union Administration. (Please comment on these rules at <www.regulations.gov> ) Credit union member, Den Mark Wichar best summed it up during his public testimony by giving thanks to all those people who successfully kept the “credit union” in Columbia.

Now, hopefully instead of management by public relations and expensive law firms, Columbia Credit Union will use this opportunity to establish accountability for the actions of its Board as well as reestablishing the Supervisory Committee’s role in providing a check and balance to the Board. In 2003, Columbia Credit Union has 619 million dollars in assets and close to 60 million dollars in total equity. It is the number one consumer lender in Clark County.