For the record

Let's get it straight. The two Letters to the Editor appearing in the May 3rd issue ("Better for whom?," "Enough is enough") were off the mark on the facts. To begin with, California has 58 counties, not 27. We serve 21 of these counties. Further, we have chosen to serve many of the least populated counties that we have carefully researched as being underserved by financial institutions, both banks and credit unions. Now to the statement that we have the ability to serve 83% of the state's population. The actual facts are as follows: The population of the 21 counties we serve is 5.9 million. The population of California is 34.3 million. This means that actually our charters allow us to serve 17.2% of California, a far cry from the 83% stated in the letters. Mr. Perlitsh and Mr. Davis misread my statement that we have branches in 5 other counties where we have not applied for community charters. These 5 plus the 21 does not add up to 58 counties. Open access to credit union membership is a positive development for consumers. In California, there is a strong trend toward community charters throughout the state by credit unions of all sizes. Stan Hollen President & Chief Executive Officer The Golden 1 Credit Union

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