Contact:   Katie Walton
Director, Member Communications
Ohio Credit Union League
800-486-2917 or 614-336-2894

FOR IMMEDIATE RELEASE

Members pass Ohio Credit Union League’s

dues proposal by wide margin

Dublin, OH (September 10, 2007) - The Ohio Credit Union League’s proposed new dues model has been passed by its member credit unions by a margin of 77 percent. Fifty-eight percent of the League’s membership participated in the ballot process. The League’s 347 member credit unions voted via mail ballot between August 1 and August 31. The proposal was unanimously supported by the League’s board of directors.

The new dues formula was developed as the result of an 18-month process of research, analysis, and dialogue with Ohio’s credit unions. Meant to carry the League into the future with confidence, the new formula adopts a “square root of assets” dues funding model in which the square root of a credit union’s assets times a multiplier is used to attain the dues target. Each year, the League board will set the dues target level via the annual budget and decide a maximum factor (“a cap”) for smaller credit unions. The appropriate multiplier required to achieve the target will then be determined, and each credit union’s dues calculated.

Similar to the model recently adopted by the Washington, Colorado, and Texas leagues, the formula does not include a cap for larger credit unions. The proposal is designed as a lasting solution and will spread the investment in League funding across different-sized credit unions in a more proportional, fair, and equitable way.

The Ohio Credit Union League and its board were committed to creating the new dues formula with the support and input of Ohio’s credit unions. Every Ohio credit union was invited to participate in statewide Town Hall meetings and conference calls to discuss the process and resulting proposed formula. Credit union leaders were also invited to directly contact League Chair Steve Behler and President Paul Mercer to discuss the reformulation.

“The high degree of member participation in the process and the strong affirmative vote speak to the validity of the new dues model and the terrific member support the Ohio League has earned, “ said Steve Behler, Chair of the Ohio Credit Union League and CEO of Kemba Credit Union.

“Passage of the dues reformulation is a huge and invigorating moment for the Ohio Credit Union League,” said President Paul Mercer. “Ohio’s credit unions have breathed new, powerful, and strategic life into their League with their resounding support of the new dues formula. With the new dues formula in place, the Ohio Credit Union League has a bright future as one of the nation’s premier state credit union trade associations, and will remain ardently dedicated to fulfilling its mission of acting as a catalyst for the success of Ohio’s credit unions.”

The League membership also voted on a proposed Code of Regulations Amendment to expand the League Board of Directors’ authorities with regard to the new dues model. The amendment passed by similar a margin.

The new dues formula will take effect in 2008.

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Credit unions are member-owned financial cooperatives which are democratically controlled by the members. As not-for-profit financial institutions, credit unions return earning to their members in the form of dividends, lower loan rates, higher savings rates, and improved service. Credit unions consistently rank the highest in customer satisfaction of any financial institutions, and have been Number 1 in every American Banker/Gallup poll conducted since 1989.