Credit Union Holds Strong in Mortgage Lending Crisis

Lockheed Federal Credit Union Continues to Generate Home Loans for Members

Burbank, Calif. (August 23, 2007) – During a time when many mortgage lenders are limiting loan amounts and tightening underwriting procedures, Lockheed Federal Credit Union (LFCU) continues to offer home loans at very attractive rates.

With 70 years of history behind it, LFCU remains unscathed from recent mortgage lending concerns, thanks to its strong financial position and prior decisions to avoid sub-prime lending. LFCU has $2.6 billion in total assets with a capital ratio of 15.5 percent, more than double the amount considered “well-capitalized” by regulators, and more than double the bank average. In addition, LFCU offers excellent mortgage rates, even better than some of the nation’s top lenders.

Credit unions are member-owned, not-for-profit institutions that do not answer to stockholders. Due to more conservative business practices, market downswings generally do not impact credit unions to the same extent as banks.

“Our mortgage delinquency is very low, based on excellent underwriting, and the fact that we do not participate in sub-prime lending,” said Dave Styler, President and CEO at LFCU. “We are fortunate to have such a strong balance sheet, and we are well-positioned to withstand any foreseeable economic and financial turmoil.”

IDC Financial Publishing, a highly-respected financial institution analyst, rates LFCU as one of the strongest financial institutions in the country. While many other lenders have withdrawn from mortgage lending, LFCU remains one of the largest, most reliable and safest credit unions in the nation.

ABOUT LOCKHEED FEDERAL CREDIT UNION

Lockheed Federal Credit Union has more than 100,000 members and more than $2.6 billion in assets. Chartered in 1937, LFCU offers members preferred rates on savings and loan accounts, surcharge-free access to 25,000 ATMs, and access to a nationwide network of branches.

Today, LFCU is the largest financial institution headquartered in the San Fernando Valley and recently earned a perfect score for financial strength from independent rating company, IDC Financial Publishing. Membership is open to all Southern California residents. LFCU operates branches in the San Fernando, San Gabriel, Santa Clarita, Conejo and Antelope valleys, as well as eastern Ventura County. Deposits in LFCU are federally insured by the National Credit Union Administration. LFCU is an equal housing lender.