MEDIA CONTACT: Michael Nutt
310.643.5588 Phone
mnutt@kinecta.org

MANHATTAN BEACH, Calif. January 16, 2009 – Kinecta Federal Credit Union today announced that Todd Helmerson has been promoted to Director of Loan Production. In his new position, Helmerson will oversee consumer loan production for the credit union, including sales activities for mortgage loan production and indirect, or dealer, loan production.

“Todd has done an outstanding job in managing mortgage loan production for Kinecta,” said Ed Resendez, Senior Vice President for Kinecta and President, Nix Check Cashing. “Given the state of the current market, it’s critical that we have someone of Todd’s caliber focused on quality loans that meet our members’ needs.”

Helmerson has been employed at Kinecta since 1996 in the credit union's mortgage lending department. His previous position was Manager of Mortgage Loan Sales/Wholesale Lending. In that position, he was responsible for retail and wholesale mortgage loan production, where he achieved record production in wholesale lending for the company in 2007, funding more than $734 million in first and second mortgages. He also increased the credit union's membership by more than 900 accounts in 2007.

Prior to that, Helmerson served as Senior Mortgage Loan Counselor/Residential Lending for Kinecta, and he consistently funded between $60 million and $87million in loans annually for three consecutive years, achieving Number 1 in loan sales for the credit union. He was awarded the company's Circle of Excellence award in 2006.

Helmerson held various mortgage lending positions at Kaufman and Broad Mortgage Company, First Capital of California, and Bank of America prior to joining Kinecta. He earned a bachelor's degree in business administration from the University of Washington.

Kinecta Federal Credit Union is one of the nation’s largest credit unions, with more than $4 billion in assets as of September 30, 2008; 25 branches; and more than 220,000 members nationwide. Headquartered in Manhattan Beach, Calif., Kinecta offers its members a full range of financial products through the Credit Union and its subsidiaries, Kinecta Financial & Insurance Services, Apollo Agencies, and Kinecta Alternative Financial Solutions, dba Nix Check Cashing. Kinecta Federal Credit Union is a not-for-profit, financial cooperative that is owned by its members, and exists to provide a safe and convenient place for member/owners to conduct their financial business. Our earnings are returned to our members in the form of lower loan rates, higher interest on deposits and lower fees. For more information about Kinecta, visit www.kinecta.org. For more information about Nix Check Cashing, visit www.nixcheckcashing.com.

###