NCUA News Release

FOR IMMEDIATE RELEASE

Melinda Love Named Region VI Director

Alexandria, Va., June 10, 2003 -- National Credit Union Administration Region IV Director Melinda Love has been named director of the Region VI office succeeding Robert Blatner who retired last month.

As regional director, Love will be responsible for the NCUA Region VI operation in Concord, California, which includes the examination and supervision activities for federal credit unions in Alaska, California, Guam, Hawaii, Idaho, Montana, Nevada, Oregon, Utah, Washington, and Wyoming. The Region VI office will be relocating to Phoenix, Arizona before the end of 2004.

“ Melinda Love is an outstanding regional director who has proven to be an excellent leader in her region,” said Chairman Dennis Dollar in announcing the reassignment on behalf of the NCUA Board. “Under her leadership, Region IV has seen steady progress in both the effectiveness of its supervisory program and the financial strength of its credit unions. In achieving this high level of performance in the region, Melinda has gained the respect of her peers, state regulators and industry officials. The Board has total confidence that she will bring that same high caliber of performance to Region VI.”

As director of Region IV in Lisle, Illinois, since June 2000, Love has been responsible for the examination and supervision programs for federal credit unions in Illinois, Indiana, Michigan, Missouri, Ohio, West Virginia, and Wisconsin.

Before being named Region IV director, Love was deputy executive director assisting the executive director in managing the day-to-day operations of NCUA in the Alexandria headquarters office after serving as deputy director supervising operations in the Office of Examination and Insurance. Her NCUA career began in 1986 as an examiner in Northern California. She quickly advanced in the Region VI office as a principal examiner, problem case officer, supervision analyst, and supervisory examiner. Love participated in NCUA’s management development program in the early 1990s.

Melinda Love holds a degree in accounting from San Francisco State University in Daly City, California and a MBA from St. Mary’s College in Moraga, California. She is a certified internal auditor and a member of the Institute of Internal Auditors. Through this organization, she participated in the Citizen's Ambassador Program's 1991 accounting and auditing delegation to Moscow, St. Petersburg and Pyatagorsk, Russia.

The National Credit Union Administration, governed by a three-member board appointed by the President and confirmed by the Senate, is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 80 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.