For Immediate Release:
January 24, 2008

For more information, contact:
David Deffenbaugh
ESL Federal Credit Union
585.336.1089 or cell 261-6220
ddeffenbaugh@esl.org

ESL ANNOUNCES TWELFTH CONSECUTIVE OWNERS' DIVIDEND

Rochester, N.Y. - ESL Federal Credit Union will payout a record $7.25 million as part of this year's Owners' Dividend. More than 203,000 members of ESL are eligible to share in the credit union's twelfth consecutive payout.

"We are extremely pleased to continue to share ESL's growth and success with our members. ESL remains committed to providing exceptional service to our members who are both our customers and our shareholders. This is our number one priority," said Dave Fiedler, Chief Executive Officer.

An ESL member's Owners' Dividend is determined by adding the total dividends earned on deposit accounts at ESL to the total interest paid on ESL loans throughout the year. The total amount is then multiplied by a percentage determined by the Credit Union each year. This year, based on this percentage, an average-mortgage could result in a payout of more than $206. All Owners' Dividend payouts will be made to members via direct deposit into share accounts Thursday, January 24, 2008.

Founded by George Eastman in 1920, ESL Federal Credit Union is one of the nation’s largest and most successful credit unions. A full-service institution with $3.4 billion in assets, ESL serves 285,000 members worldwide, with 240,000 in the Greater Rochester area, through the Internet, an extensive ATM network, and 19 local branches. The company is headquartered at 100 Kings Highway South in Rochester and can be found on the Internet at esl.org.