PRESIDENT GEORGE W. BUSH APPOINTS ALFRED A. PLAMANN TO NATIONAL COOPERATIVE BANK’S...

PRESIDENT GEORGE W. BUSH APPOINTS ALFRED A. PLAMANN TO NATIONAL COOPERATIVE BANK’S BOARD OF DIRECTORS



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WASHINGTON–(HISPANIC PR WIRE – BUSINESS WIRE)–April 16, 2003–President George W. Bush has appointed Alfred A. Plamann to National Cooperative Bank’s (NCB) Board of Directors, a cooperative financial services company chartered by Congress in 1978 to meet the financial needs of America’s cooperative businesses.

Mr. Plamann, who will represent low-income communities nationwide, was confirmed on April 8, 2003 by the United States Senate for one of the three presidential appointed seats on the 15-person board. He will replace Harry Bowie, President and CEO of the Delta Foundation in Greenville, Mississippi, originally appointed in 1999.

“Al Plamann joins NCB’s Board at a unique time. While privately held firms have been hit hard and continue to struggle in the sagging economy, the cooperative sector is thriving—producing increased earnings for its members even in these difficult times,” said Charles E. Snyder, President and CEO of NCB. “Mr. Plamann previously served as an elected NCB board member for six years, two of which he served as Chairman, and during which time the bank originated over $800 million in low-income loans.”

During his tenure at NCB from 1995-2001, Mr. Plamann worked closely with NCB Development Corporation, a non-profit NCB affiliate, to meet the varying financial needs of underserved low-income communities. NCB provides loans and investment capital to targeted areas such as affordable housing, small business ventures, healthcare, affordable assisted living, worker ownership initiative, and economic and community development. During 2002 alone, NCB provided or arranged more than $190 million in financing for these critical communities, illustrating the bank’s ongoing commitment to these important ventures in today’s challenging and dynamic times.

Mr. Plamann is President and CEO of Unified Western Grocers (UWG), Inc., a cooperative wholesale grocery company in Los Angeles, California. Over 50 percent of its business is in southern California, with the UWG retailers’ prime customer base originating from low-income communities. The cooperative’s retailers control an estimated 87 percent of the market share in these low-income areas.

In addition to his position at UWG, his participation as a board member of the Weingart Center for the Homeless provides him with unique first hand experience on the types of financing required by residents and businesses in low-income neighborhoods nationwide. As a member of the financing committee, Mr. Plamann assists with the budget and other funding activities. Weingart Center is one of the largest and most comprehensive homeless advocacy facilities in the country.

Mr. Plamann received a Bachelor of Science degree in Accounting from the University of Colorado, and a Masters of Business Administration in Finance from the University of Pennsylvania (Wharton School of Business). Mr. Plamann resides in La Canada, California.

More than 50,000 cooperatives throughout the United States play a vital role in the nation’s economy. Cooperatives, outnumbering public companies four to one, span such varied industries as agriculture, grocery, hardware/lumber, financial institution, energy and housing.

The National Cooperative Bank family of companies provides a comprehensive array of financial services to the nation’s cooperatives and their members, as well as other member-owned organizations and nonprofit endeavors. Chartered by Congress in 1978 and privatized in 1981 as a cooperative financial services company, NCB is owned by more than 1,700 of its customers. Headquartered in Washington, DC, NCB has offices in Alaska, California, Connecticut, New York and Ohio. To learn more about NCB, visit http://www.ncb.coop.

–30–BW/ny*

CONTACT:

National Cooperative Bank

Felicia Grammas, 202/336-7742

or

Jordana Magdieli, 212/741-2977

PRESIDENT GEORGE W. BUSH APPOINTS ALFRED A. PLAMANN TO NATIONAL COOPERATIVE BANK’S BOARD OF DIRECTORS