Solomon Chosen to be President and CEO of Primary Financial

4/26/2005

COLUMBUS, OH – Primary Financial Company LLC, a credit union service organization (CUSO) owned by twenty-nine corporate credit unions and U.S. Central, has named Mark Solomon to be its president and CEO effective May 2, 2005. Solomon was selected by the Primary Financial board of directors after an extensive candidate search.

Solomon is currently senior vice president and CFO for Corporate One Federal Credit Union. In addition to his duties as CFO at Corporate One, Solomon also served seven years as chief financial officer, treasurer and board member for Primary Financial when it was wholly owned and operated by Corporate One, and as the managing agent after the CUSO was acquired by Corporate Exchange, LLC in August of 2003. In addition to his experience at Corporate One, Solomon spent two years as a senior risk advisor for Bank One and 14 years as a senior manager with Ernst & Young LLP.

“I’m excited to begin my new role at Primary Financial,” says Solomon. “Primary Financial has served credit unions well since its inception, and I am looking forward to enhancing the organization’s value proposition and positioning it for further growth. My history with the organization will enable me to quickly do just that,” he added.

Primary Financial made the decision to hire a president and CEO in December 2004, and began the search in February. Three members of Primary Financial’s board of directors comprised the selection committee: Kathy Garner, president/CEO of Northwest Corporate Federal Credit Union; Bob Burrell, EVP and chief investment officer, Western Corporate Federal Credit Union; and Lew Lambert, president, Minnesota operations, Mid-States Corporate Federal Credit Union.

“The selection committee interviewed several excellent candidates for this position,” said Kathy Garner, “but none with the level of experience, knowledge and passion that Mark brings to the table.”

“We’re thrilled to have Mark as the new president and CEO of Primary Financial,” said Greg Moore, president/CEO of Georgia Central Credit Union, and Primary Financial’s chairman of the board. “Mark brings a wealth of knowledge and experience to this position and is the right person to grow the CUSO, providing more value to credit unions. Mark has done a tremendous job in his role with Primary Financial in the past, and I’m excited about the possibilities ahead as he takes on this new role.”

“Mark has been an outstanding asset to Corporate One, and the selection committee made the right decision in choosing Mark,” said Lee Butke, president/CEO of Corporate One and board member for Primary Financial. “Mark has the experience and the vision to expand Primary Financial, enabling it to serve even more credit unions, and return more value back to its owners.”

Primary Financial, with offices in Columbus, Ohio and Columbus, Indiana, is a credit union service organization (CUSO) owned by twenty-nine corporate credit unions and US Central. Primary Financial has been in business since 1996 and currently serves more than 2,600 credit unions throughout the United States through the SimpliCD certificate placement service, with almost $3 billion in credit union investments outstanding.

For more information, please contact Paul Hixon at 800/282-2560 ext. 9313 or Amy Fuller at 800/768-4228 ext. 361.