U.S. Central Elects Board Members; Releases Annual Report

LENEXA, Kan. – At its 29th Annual Meeting and Conference held in Phoenix on April 1, U.S. Central elected three directors to its nine member board. Tom Kuehl, president/CEO of Iowa League Corporate Central Credit Union, was re-elected to a three-year term as a Class A director (defined as a corporate executive or a corporate director). His term expires in 2006. Paul Mayotte, president/CEO of Jeanne D’Arc Credit Union in Lowell, Mass., and chairman of the board of directors for EasCorp, was elected to serve as a Class B director (defined as a corporate director). His term expires in 2006. Paul Mercer, president of Ohio Credit Union League, was re-elected as a Class C director (defined as a representative from a non-corporate member of U.S. Central, such as a credit union league or a credit union association). His term expires in 2006. Other U.S. Central board directors include David Brehmer, president/CEO of First Carolina Corporate; Pete Crear, executive vice president, CUNA and Affiliates; Ed Fox, president/CEO of Mid-Atlantic Corporate; Lew Lambert, president/CEO of Minnesota Corporate; Dave Preter, president/CEO of Mid-States Corporate; Bob Thurman, president/CEO of Credit Union of America. None of these directors were up for re-election at this annual meeting. U.S. Central’s Board officers are the following: * Chairman, Ed Fox * Vice Chairman, David Preter * Treasurer, Tom Kuehl * Secretary, Bob Thurman U.S. Central also released its 2002 Annual Report, which showed net income for year-end 2002 was $59.1 million, up $11.2 million, or nearly 24 %, from 2001. Primary capital totaled $773.4 million, compared with $723.5 million from the year before.