Jan 07

SSCAA Credit Card progress update

Dear alumni,

Thank you for completing the SSCAA Private Label Credit Card survey in July 2008. The survey result is posted on the SSCAA’s web site (http://www.sscaa.org/news/Summary_CreditCardSurvey_20080714.pdf). I would like to share with you the latest project development.

The survey result was analyzed and discussed at the July 2008 Alumni Development Subcommittee meeting, with a recommendation to proceed. However, at the 1st meeting of the 2008-2009 Executive Committee in September 2008, after careful consideration of the recommendation and the changing economic circumstances, the Executive Committee decided to put the project on hold until a later more suitable time.

The decision was a hard one as we believed that the Private Label Credit Card could bring a needed sense of belonging and pride to the alumni community. However, as the program leader for the project, I have observed that the economy is heading to challenging times, and together with the Bank’s demanding terms & conditions, I feel that the Association could better focus its resource in building the networking and supporting among our alumni, instead of additional financial consideration for our alumni. As such, I made the recommendation to the Executive Committee to hold. When a more suitable opportunity arises, I will re-initiate the discussion, and I look forward to your continual support in the future.

Thank you.

Samson Lee

Vice President

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