Member-Owners of DFCU Financial Submit Signatures to Request a Special Meeting; DFCU Owners United Says Purpose of Meeting is to Remove the Credit Union's Board Of Directors

DEARBORN, Mich.--April 18, 2006--Member-owners of DFCU Financial, Michigan's largest credit union, have submitted 1,762 written signatures, more than three times the amount required to request a Special Meeting of DFCU Financial's membership, according to Linda Malec, spokesperson for DFCU Owners United.

"This group has worked tirelessly since the conversion process was made public to better inform member-owners of DFCU Financial about the proposed conversion from a credit union to a mutual savings bank," said Dick Sly, also a former board member of DFCU Financial.

The purpose of the Special Meeting will be to seek the removal of the board of directors who were responsible for approving the credit union's application for charter conversion with no apparent input from its 160,000 plus member-owners.

"We were pleased to learn that the board of directors withdrew its application for conversion on Monday, April 17, 2006," said Malec. "This was a significant first step, but members want more. Prior to and during the voting process, the credit union failed to explain how member-owners would benefit. We have been stonewalled at every turn in our request for information about the due diligence process and to learn whether the decision for conversion was based on the personal interests of the directors, officials and employees of the credit union."

It is also believed that members were misinformed in DFCU Financial's disclosure package about members' ability to continue to use Family Service Centers, a shared branching network of credit unions. According to the CO-OP Network bylaws, once DFCU converted to a stock bank, and upon expiration of its current contract, DFCU would no longer be eligible to participate and members would lose access to Family Service Centers.

"The whole process of applying to convert from a not-for-profit credit union to a for-profit mutual savings bank appears to have been flawed," said Malec, who served as the credit union's board chairman for more than 10 years. "The responsibility rests clearly on the shoulders of the board of directors."

In accordance with the bylaws, DFCU Financial member-owners will have the opportunity at a Special Meeting to decide whether the board should be removed. There is a formal process to be followed. The chairman of the board of directors of DFCU Financial must call a special meeting within 30 days of receipt of the written request. Written notice of the meeting must be given to each member at least seven days before the date set for the meeting.

Each director named in the notice will be given the opportunity to be heard at this special meeting. The members present at the meeting will then vote on whether or not to remove the directors.

DFCU Owners United continues to receive scores of comments from members urging a recall. It has pledged to continue working to raise member awareness through ads, signage, meetings and its website www.savemycu.com. The group also welcomes member-owner comments addressed to DFCU Owners United, P.O. Box 511445, Livonia, Michigan 48151.