Merger Creates Miami CUPower

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MIAMI - (06/13/06) – Power 1 CU and Pan Am HorizonsCU announced Monday they plan to combine to create a $425 millioncredit union, one of the biggest in the area. The new credit unionwill be called Power 1 CU and be headquartered at Power 1's currenthome in the Miami suburb of Pembroke Pines. Power 1's CEO HenryPrior will serve as President and CEO and Pan Am Horizons CEO AllanPrindle will serve as Executive Vice President and Chief OperatingOfficer. The combined credit union will operate 11 branches insouth Florida, serving almost 60,000 members.

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