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MACDILL FEDERAL CREDIT UNION WINS NATIONAL FEDERAL CREDIT UNION OF THE YEAR AWARD

 MACDILL FEDERAL CREDIT UNION WINS
 NATIONAL FEDERAL CREDIT UNION OF THE YEAR AWARD
 TAMPA, Fla., July 27 /PRNewswire/ -- MacDill Federal Credit Union (MFCU) was selected out of 8,000 credit unions nationwide as the winner of the "1992 National Federal Credit Union of the Year" award by the National Association of Federal Credit Unions (NAFCU). Board Chairman Gregory P. Holder and President Paul F. Simkins attended NAFCU's 25th Annual Conference in Boston, July 17, where they received the award.
 The NAFCU award, in existence since 1975, is the most coveted and prestigious credit union award in the country. Of the 8,000 credit unions nationwide, 350 were nominated.
 MFCU, with assets of more than $300 million and a membership of 85,000, which includes the military and 88 member corporations, was chosen because of its phenomenal growth over the past two years. A top quality management team was put in place in May of 1990, which emphasized spread management and cost control. Management promoted low interest loan program, such as "Guaranteed Refinancing," giving members an opportunity to get guaranteed approval for refinancing automobiles.
 Meeting the financial needs of the membership became the driving force behind MFCU's success story, enabling the credit union to increase its loan volume dramatically while many other financial institutions' loan volumes decreased. Loan products were developed with members' needs in mind. For example, from the Guaranteed Approved Refinancing advertising campaign alone, MFCU wrote 3,271 loans in 12 months, totalling $30,609,947. Further, the credit union's net return on assets increased 330 percent between May 1990 and June 1992.
 The NAFCU Plaque will be exhibited on a rotating basis during August at MFCU branch locations before it is placed on permanent display at the South Dale Mabry branch in Tampa.
 -0- 7/27/92
 /CONTACT: LaNona Robinson of MacDill Federal Credit Union, 813-837-2451, ext. 445/ CO: MacDill Federal Credit Union ST: Florida IN: FIN SU:


SH-PS -- NY089 -- 3598 07/27/92 14:49 EDT
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Publication:PR Newswire
Date:Jul 27, 1992
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