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FORMER CUSTOMERS OF FLORIDA S&L'S FACE DEADLINES ON DEPOSIT CLAIMS

 JACKSONVILLE, Fla., June 24 /PRNewswire/ -- Former savings and loan customers with inactive accounts are facing some important deadlines.
 First Union National Bank of Florida will be required to forward unclaimed funds to the Resolution Trust Corporation (RTC) from accounts that have remained inactive since the deposits were acquired by First Union. The affected accounts were originally established at Florida Federal Savings Bank, Flagler Federal Savings & Loan, Security First Federal Savings and Loan, and American Pioneer Savings Bank. All of these institutions were acquired by First Union during the past two years.
 "Most of the former customers of these institutions have nothing to worry about and do not need to take any action," explained Jim Robertson, director of marketing for First Union National Bank of Florida. "We are simply trying to get in contact with customers who have not processed any transactions since these mergers occurred. This is of particular concern because of our state's large population of seasonal residents and international customers."
 As of June 23, 1 percent of the accounts at the four institutions remain unclaimed. That represents 4,031 unclaimed accounts totaling $44.2 million.
 First Union and the RTC have sent several mailings to customers who have
inactive accounts. First Union has also taken the additional step of setting up a special toll-free hotline: 1-800-377-1771. Customer information representatives can help customers claim their accounts by phone.
 The RTC gives customers a maximum of 18 months to claim their funds. To do so, customers can simply call First Union's hotline to say they want the accounts to remain active. Making a deposit or withdrawal is another way that the accounts can be "claimed." Certificates of deposit that were issued before the acquisitions also need to be ratified -- a simple process that can also be done by phone.
 "Some customers may be disregarding the letters they've received without realizing the importance of the notice and the impact to their accounts," Robertson said.
 First Union acquired Florida Federal of St. Petersburg on Aug. 2, 1991; American Pioneer of Orlando on Sept. 20, 1991; Flagler Federal of Miami on March 27, 1992; and Security First of Daytona Beach on Apr. 10, 1992.
 First Union National Bank of Florida has assets of approximately $28 billion and operates 480 banking offices statewide.
 -0- 6/24/93
 CONTACT: Jeep Bryant, First Union Corporation, 704-374-2957/
 (FTU)


CO: First Union Corporation; First Union National Bank of Florida ST: Florida IN: FIN SU:

SB -- CH003 -- 5212 06/24/93 09:56 EDT
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Date:Jun 24, 1993
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