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

MANHATTAN BEACH, Calif. March 20, 2009 – Kinecta Federal Credit Union today announced that Perry Yick has joined the organization as Vice President of Risk Analytics, reporting to Jason Obradovich, who directs Kinecta’s secondary marketing and quantitative analytics areas. Yick's responsibilities will include loan loss reserves, pipeline and hedging analytics, and credit and portfolio analysis.

"Perry has an exceptionally strong background in mortgage finance and capital markets,” said Jess Lederman, Senior Vice President and Chief Credit Officer. "Bringing him on board is another milestone in Kinecta’s progress toward building world-class origination and secondary marketing capabilities in mortgage, consumer, and commercial assets.”

Before joining Kinecta, Yick headed his own financial consulting firm, Yick Financial Corp. Prior to that, he was Senior Vice President in charge of pricing new and existing products at WMC Mortgage Corp. (General Electric Co.). He had an extensive career at Countrywide Financial Corp., most recently as Senior Vice President, responsible for pricing and exit strategies for all prime products. Yick earned a bachelor’s degree in Business Administration from the University of Southern California.

Kinecta Federal Credit Union is one of the nation’s largest credit unions, with more than $4 billion in assets as of December 31, 2008; 26 branches; and more than 228,000 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.

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