So-Use and Ukrainian Credit Union Merger

Toronto, August 16, 2010 - The Boards of Directors of So-Use Credit Union Limited (So-Use) and Ukrainian Credit Union Limited (UCU) are pleased to announce that in keeping with their Letter of Intent last month, they have now completed their due diligence and entered into a binding agreement to merge their credit unions effective October 31, 2010. The transaction is subject to approval by regulators and members of both credit unions.

The merged credit union will have more than 25,000 members and assets in excess of $470 million, making it the 15th largest in Ontario. With a combined workforce of close to 100 employees, members will enjoy expanded services that include internet and mobile phone banking, a call centre, Interac, and branches in Toronto, Mississauga, Oshawa, St. Catharines, Windsor, London, Sudbury and Thunder Bay.

Marc Sirard, CEO                                       Taras Pidzamecky, CEO

So-Use Credit Union Limited             Ukrainian Credit Union Limited