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Alaska USA acquires The Members Own Federal Credit Union

FOR IMMEDIATE RELEASE
October 1, 2009

Anchorage, Alaska – Alaska USA Federal Credit Union has been selected by the National Credit Union Administration (NCUA) to acquire certain assets and assume the shares and certain liabilities of The Members Own Federal Credit Union located in Victorville, California. This acquisition complements Alaska USA’s geographic diversification strategy and provides for further operational efficiencies.

The Members Own serves the residents of selected cities in San Bernardino County and has two branch locations in Victorville and Hesperia. The Members Own has deposits of $84 million and serves 11,000 members.

This purchase and assumption transaction is effective Oct. 1, and Alaska USA will assume the operation of The Members Own Federal Credit Union on that date.

“Alaska USA recently completed the acquisition of High Desert Federal Credit Union in Victor Valley, California, so we will be operating from an established base in the area. As before, the priority will be to maintain high quality service to The Members Own members and assure business as usual while we make the transition,” said Bill Eckhardt, President of Alaska USA.

Alaska USA currently serves 370,000 members worldwide, including 16,000 members in California. The credit union operates an extensive network of 72 service facilities, including 56 branches in 32 communities throughout Alaska and in Washington and California. Alaska USA’s three Victor Valley branches are in Victorville, Apple Valley, and Hesperia.

More about Alaska USA Federal Credit Union
Alaska USA Federal Credit Union is a member-owned, not-for-profit cooperative with $4.1 billion in assets. Alaska USA provides a full range of financial services for individuals and businesses, including savings and loan programs, mortgages and real estate loans, personal and commercial insurance, title and escrow services, and investment and trust management. For more information, visit http://www.alaskausa.org.

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