FOR IMMEDIATE RELEASE

Filene Expands i³ Group With 28 “Next Generation” Leaders

San Diego, Calif., August 28, 2006 – USA Federal Credit Union’s Senior Vice President of Risk Management & Planning, Rob Folsom, has been named to the select and prestigious i³ Group by the Filene Research Institute and the Center for Credit Union Innovation. After a rigorous screening and testing of over 120 applicants, he becomes one of only 28 rising credit union executives to form the “3rd wave” of executives at this credit union “think tank.”

“The Filene Research Institute is selectively tapping the creative skills and energies of top leaders to benefit the industry,” says Mark Meyer, Director of Innovation, “This professional work group draws upon the innovative insights of these highly talented credit union professionals. The i³ Group will develop strategies to lower costs and increase credit union operational efficiencies, build member loyalty, and meet the special needs of member segments.”

The in-depth application process required written essays on professional leadership and innovation, followed by an entrepreneurial assessment questionnaire, developed by the Carnegie-Mellon Institute, that identifies innovation competencies. Overall, the selection process evaluated innovative aptitude, experience, present position, leadership abilities, motivation, geography and type of credit union.

“Rob managed projects, developed a series of white papers on topic ranging from charter choices to branch deployment strategies, and brought a fresh perspective to many ingrained practices at USA Federal Credit Union, helping me to begin peeling back the layers of past practice and install new layers of forward thinking strategy, “said USA Federal Credit Union’s President/CEO, Mary Cunningham.

“This is a big honor and I am looking forward to the synergy of so many top people working together,” said Folsom, “We want to make a difference to the bottom line and the front line. We are eager to develop cost-saving technologies, customer-centered processes, and improvements to service levels for our members.”

Previous outputs of the group are highlighted in the Filene i³ Key Findings 2.0, and further analyzed in Investigative Reports such as “Gift Registry Accounts For Key Life Events: A Radical Leap for Credit Unions?” and “MoneyWorks: A Credit Union Party That’s Fun!”

“The i³ Group will continue to develop ideas and initiatives that address major issues facing credit unions,” Meyer explains, “They are looking to identify developments in other financial institutions that can be adopted by credit unions. They also provide a forum for cooperation, collaboration, professional development and industry succession planning.” The development of i³ in 2004 was made possible through sponsorship in part by America’s Corporate Credit Unions.

About USA Federal

With more than 61,000 members and over $700 million in assets, USA Federal Credit Union (headquartered in San Diego) operates 20 branches, including locations in San Diego and Riverside Counties, Las Vegas (NV), Japan and Korea. Members of this non-profit financial cooperative include the military, civilians and select employee groups. Founded in 1953 at the Naval Training Center in San Diego, USA Federal offers a full range of financial services including business services and consumer savings, checking, mortgage and home equity loans, auto loans, debit and credit cards, share term certificates, IRAs, and a 24-hour phone center. Online services include eStatements, Online Banking and Bill Pay with Money HQ and online loan applications and approval. Additional services include the BALANCE financial fitness program, and investment and retirement planning offered by MEMBERS Financial Services. This credit union is federally insured by the National Credit Union Administration. Visit www.usafedcu.org or call (800) 220-1USA (1872) or (858) 831-8100 for more information.

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Note: USA Federal maintains the above information for archival purposes, which is presumed accurate upon release, however, data may become outdated over time and affect accuracy.