BECU Executive Vice President Joseph (Joe) Brancucci Selected as President and CEO of GTE Federal CU

FOR IMMEDIATE RELEASE

CONTACT:
Todd Pietzsch
BECU Public Relations
206.439.5906
tpietzsch@becu.org

CONTACT:
Doug Richardson
GTE Federal Credit Union
813 414-6215
doug.richardson@gtefcu.org

BECU Executive Vice President Joseph (Joe) Brancucci Selected as President and CEO of GTE Federal Credit Union

Following a nationwide search, the GTE Federal Credit Union Board of Directors is pleased to announce Joseph (Joe) Brancucci as GTE's next President and Chief Executive Officer. This search was conducted after the retirement of long time CEO Bucky Sebastian in December, 2009.

Joe Brancucci is currently the Executive Vice President and Chief Operating Officer of the $8.6 billion, Tukwila based BECU (formerly Boeing Employees' Credit Union). Joe has been at BECU since 1995 and has been instrumental in leading BECU efforts in paperless consumer and real estate lending, teller-less branches, risk management, talent management and development, and operating efficiencies. He founded Prime Alliance Solutions, Inc. which provides a mortgage technology and business solution to over 1000 credit unions. He will remain as Chair of the Board and CEO of Prime Alliance. Joe has been a senior executive in financial services for almost 40 years including tenure at Freddie Mac and a South Florida credit union.

Mr. Brancucci is the former Chair of the CUNA Council Forum and the CUNA Lending Council. He is the Chair and Founder of the CU Housing Roundtable, and is a member of the board of Balance, and Secretary of the Board of CUDL.

GTE Federal Credit Union's Board Chairman, Brad Hines, summarizes the Board's decision stating, 'Joe brings to GTE a combination of experience, passion, and effective leadership that will take GTE into the future. His vision for the member and employee experience, as well as for the communities of which GTE is a part, is exciting as we position GTE to better serve our existing members and for the next generation of credit union members."

Joe Brancucci states, "I am excited to take on this new challenge. GTE is a credit union known for its innovation and willingness to define market trends, not react to them. Florida has been particularly hard hit by the economic events of the last few years, and GTE has the opportunity to help lead the communities it serves to recovery. The Board and the leadership team have a remarkable record of credit union and community accomplishments over the first 75 years. I am extremely optimistic about the future, and look forward to becoming a part of the new GTE history."

Mr. Brancucci will join GTE Federal Credit Union on in early July, 2010.

About GTE Federal Credit Union: GTE Federal Credit Union was founded in 1935 and is one of the largest locally owned and operated financial institutions in Tampa, Florida. With $1.5 billion in assets, and serving its almost 200,000 members, GTE Federal Credit Union continually provides its members with a wide selection of products and services while incorporating the latest account security measures. Visit the website at www.gtefcu.org.

About BECU: With more than 660,000 members and more than $8.6 billion in assets, BECU is the largest credit union in Washington and one of the top five financial cooperatives in the country. BECU currently operates almost 50 locations in the Puget Sound region. All Washington state residents and students attending Washington colleges and universities are eligible to join.

About Prime Alliance: Prime Alliance Solutions, Inc., is the largest credit union service organization concentrating on credit union mortgage lending, and is the credit union movement's recognized leader in innovative mortgage solutions. Prime Alliance's technology is the first and only system that enables fully paper-less, completely electronic mortgage lending. More than 35% of all credit union mortgages are originated on Prime Alliance's Retail Lending and Loan Fulfillment Centers. The Company offers a full family of real estate solutions, including online applications, loan origination software, loan servicing, closing and settlement services, real estate services, Strategic Mortgage Solutions University and consulting. Visit the website at www.primealliancesolutions.com.

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