MEMBER NEWS

2009 MARKED YEAR OF EXPANSION AND CHANGE AT MAINSTREET CREDIT UNION
Annual meeting bids farewell to long-time board member, welcomes new board leadership 

Lenexa, Kan. (April 15, 2010) – Celebrating two successful mergers and a strong financial performance in the face of a weakened economy, Mainstreet Credit Union (formerly Credit Union of Johnson County) celebrated 2009 achievements at its “Strengthening Our Roots” Annual Meeting on April 13.

      As the fourth-largest consumer credit union in Kansas, Mainstreet CU grew its assets by $22 million, to $240.7 million at year-end 2009. The credit union’s membership grew as well, to over 53,000 in 2009, up from 49,900 in 2008. And Mainstreet continued to see growth in its lending portfolio, providing needed loans to members at a time when many financial institutions did not or could not do so. At year-end 2009, Mainstreet had $173.3 million in outstanding loans.  

      “While the economy was slow last year, Mainstreet’s lending was up,” said John Beverlin, President/CEO of Mainstreet. “We are pleased to be in the strong financial position to support our members with needed loan services. We are well-capitalized, have a strong bottom line, and are committed to making sure our products and services keep pace with members’ needs.”

      The meeting also recognized Dr. Jack Chalender, who, after providing 37 years of leadership on the Board of Directors, retired to Colorado. The credit union is planning a tribute to Dr. Chalender later this summer but used the meeting to acknowledge his many years of service.

      “Dr. Chalender’s outstanding service and selfless dedication over the years have been a major part of this credit union’s success,” said Beverlin.

      As outgoing  Board Chairman, Dr. Chalender shared his thoughts in the 2009 annual report. “It is with great pride that I look back at the years of accomplishments of the credit union, and my wife and I plan to

Mainstreet Credit Union Annual Meeting
April 15, 2010/Page Two

remain active members,” he said. “We have gone from humble beginnings to a thriving institution of almost $250 million in assets, and I look forward to experiencing Mainstreet’s continued growth and success.”

      At the meeting, the credit union elected Marilyn Meyer to fill Chalender’s seat on the Board.

      “The past year was one full of growth and change at the credit union,” said Beverlin. “And I’m pleased that through it all, we remained committed to helping people achieve their financial dreams. As in the past and into the future, our roots in this community remain steadfast and strong.”

About Mainstreet Credit Union (formerly Credit Union of JohnsonCounty)
The Lenexa, Kansas-based Mainstreet Credit Union, formerly Credit Union of Johnson County, has provided financial products and services to area residents and employees of Johnson County-based businesses for 55 years. In 2005, its field of membership expanded to include residents and employees throughout the greater Kansas City metropolitan area. In 2008, Free State Credit Union joined with Mainstreet Credit Union, adding two additional branches in Lawrence, Kan; and in 2009, both Leavenworth Teachers & Community Credit Union and Faith Financial Federal Credit Union merged with the Credit Union, adding two more branch locations in Leavenworth, Kan., and Kansas City, Mo.
 
With assets of more than $240 million, the credit union provides 53,000 members with checking and savings, loans and mortgages, and deposit and investment products, as well as a nationwide network of fee-free ATMs. For more information, visit www.mainstreetcu.org or call (913) 599-1010.

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