MEDIA CONTACT: CORPCOMM@KINECTA.ORG

Two Board Members Re-Elected; Robert A. Young Re-Appointed Board Chair

Manhattan Beach, CA (FOR IMMEDIATE RELEASE) – Kinecta Federal Credit Union announces the re-election of Paul A. James and Mary Yasui-Yamabe to the Kinecta Board of Directors at its 68th Annual Meeting of the Membership held at the Manhattan Beach Country Club on April 24, 2008.

“We are pleased that these outstanding directors will continue to serve on Kinecta’s Board,” said Simone Lagomarsino, President and CEO of Kinecta. “They are dedicated to the Credit Union industry and to Kinecta’s goal of providing outstanding member service.”

In the organizational meeting that followed the general membership meeting, the Board re-appointed Robert A. Young as Chair. Other officers who were appointed include: Mary Yasui-Yamabe, Vice Chair; Paul A. James, Treasurer; and Darryl F. Johnson, Secretary. Janet C. Sparrow, John N. Tessier, and Jeffry Y. Yonemura continue to serve as directors.

James has served as an active volunteer for Kinecta Federal Credit Union for over 20 years. In addition to being Treasurer, he serves as Chair of the Board’s Finance Committee, and as a member of the Board’s Compensation Committee. His extensive experience includes previous service as Chair of the Board of Directors for nearly five years, as well as Chair of most Board committees during his tenure, including Chair of the Supervisory Committee.

James is Senior Vice President, Human Resources and Administration, for The DIRECTV Group, Inc., the nation’s leading satellite-television company, which evolved from Hughes Electronics and Hughes Aircraft Company. He was previously Senior Vice President, Finance, with DIRECTV, following several corporate and operating finance management positions during his 25 years with the company. James started his career with public accounting firm Arthur Young & Company. He holds a bachelor’s degree in Business/Economics from the University of California at Los Angeles, an MBA from the University of Southern California, and a CPA certification. He is a resident of Manhattan Beach, Calif.

In addition to serving as Vice Chair of the Kinecta Federal Credit Union Board, Mary Yasui-Yamabe has held several other positions during her 14 years of service to the Credit Union. She was Vice Chair and Director of Kinecta Financial Management Company, LLC, Assistant Secretary to the Board, and has chaired the Governance, Supervisory, Volunteer Selection, and Human Resources Committees. In addition, she has served on all of the Board committees.

Yasui-Yamabe was the Chief Financial Officer for HRL Laboratories, LLC, from 1997 to 2006. HRL is jointly owned by Boeing and General Motors. She began her financial career with Hughes Aircraft Company in 1979 and worked in various positions in the Los Angeles area and in England while on special assignment. She served as Treasurer of the Malibu Chamber of Commerce Board of Directors from 1998-2006 and is currently a member of the LAX Coastal Area Chamber of Commerce, representing Kinecta.

She was the founding President of the Hughes Asian Pacific Professional Association, which continues to be sponsored by Boeing and Raytheon. In 2001, Ms. Yasui-Yamabe received the LEAP (Leadership Education for Asian Pacifics) award for Outstanding Leadership. She earned a BS in Finance from California State University in Los Angeles and an MBA from Loyola Marymount University. She is a resident of Playa Del Rey.

Additional Committee, Board Appointments 
In addition to the Kinecta Federal Credit Union Board officers, Supervisory Committee officers were appointed as follows: Jacqueline Stafsudd, Chair; Suzanne M. Curtin, Secretary; and James B. Burley, member.

Officers also were appointed to the Boards of two Kinecta subsidiaries as follows:

Kinecta Financial Management Company, LLC: Jeffry Y. Yonemura, Chair; Janet C. Sparrow, Vice Chair; Mary Yasui-Yamabe, Treasurer; and Simone Lagomarsino, Secretary.

Kinecta Alternative Financial Solutions, Inc.: Darryl F. Johnson, Chair; John N. Tessier, Vice Chair; Simone Lagomarsino, Treasurer; and Paul A. James, Secretary.

Kinecta Federal Credit Union (www.kinecta.org) is one of the nation’s largest credit unions, with $4.4 billion in assets and more than 220,000 members. Headquartered in Manhattan Beach, Calif., Kinecta offers a full range of financial products through the Credit Union and its subsidiaries, Kinecta Financial & Insurance Services LLC, Apollo Agencies, Inc., and Kinecta Alternative Financial Solutions, Inc.