June 6, 2025

Dear Valued Members,

We are excited to share some important news that marks a new chapter for your financial journey. COPOCO Community Credit Union (COPOCO) has announced its intent to merge with ELGA Credit Union (ELGA CU) – a move that promises to bring you more tools, more access, and more opportunities. The completion of the merger remains contingent on the vote of COPOCO’s members.

Once COPOCO’s merger into ELGA CU is finalized, you will automatically become a member of ELGA CU. While no opt-in agreement is required under state law or by ELGA CU, we will ask you to acknowledge and agree to ELGA CU’s membership terms. This merger is expected to occur on or before August 1, 2025. Account conversion will take place on or before the weekend of March 1, 2026.

We are proud to bring together two credit unions that share a common history and purpose, both founded in 1951 to serve the hardworking employees of Consumers Power. This partnership is a proactive step forward. Faced with rising technology costs and increasing regulatory demands, COPOCO has chosen to partner with ELGA Credit Union – a strong, financially sound institution with a shared commitment to member-first service.

By joining forces, we are creating something greater: a credit union that not only honors its roots but also embraces innovation, offering you an expanded suite of products and services, enhanced digital tools, and more locations to better serve you.

While we are excited about the opportunities ahead, membership with ELGA CU is not mandatory. You are, and always will be, free to choose the financial institution that best meets your needs, before or after the merger is finalized.

Below you will find information regarding the benefits of becoming a member of ELGA CU, what to expect with the transition from COPOCO to ELGA CU, and a question-and-answer section to address anticipated questions.

Benefits of Membership at ELGA Credit Union:

• ELGA CU is a not-for-profit, member-owned financial cooperative whose purpose is to build our community through positive impact. Every day ELGA CU focuses on their mission of empowering knowledgeable associates to develop and deliver solutions that guide members toward a brighter financial future. ELGA CU provides a wide variety of financial tools and solutions as well as a full suite of consumer and commercial accounts and services.
• ELGA CU was founded in 1951 in Flint, MI and now serves more than 100,000 members online and in 13 locations throughout mid-Michigan.
• Once regulatory approval is received and the transaction is consummated, all current members of COPOCO will qualify as members of ELGA CU.
• Everyone that lives or works in ELGA CU’s field of membership is eligible for membership in ELGA CU. The field of membership includes all counties in Michigan. Current COPOCO members residing outside the State of Michigan remain members of the combined credit union.
• ELGA CU has a rich tradition of engaging and supporting the communities we serve. Last year, ELGA CU and the ELGA Credit Union Foundation for Community Impact funded grants, scholarships, sponsorships, and donations totaling more than $386,000 and our employees completed 5,000 hours of community service. COPOCO also has a strong tradition of community support and ELGA CU looks forward to continue that tradition in the communities COPOCO serves.
• With assets of more than $1.5 billion, ELGA CU can provide expanded offerings in personal banking accounts and services. Furthermore, you will have access to 13 branch locations and a nationwide ATM network with more than 30,000 ATMs.
• Expanded branch hours through Interactive Teller Machines (ITMs) to offer you more flexible options to fit your schedule.
• Improved technology through state-of-the-art digital banking solutions with enhanced features to improve your banking experience.

Enhanced and expanded loan products, including vehicle, credit card, mortgage, and business loans to fit all of your financing needs.

What to Expect:

We are working to make the transition from COPOCO to ELGA CU as seamless as possible. Completion of the merger, or “closing,” is expected to take place on or before August 1, 2025, and you may start to notice the transition throughout the third quarter of 2025. However, some changes to accounts and services offered will not occur until on or before the weekend of March 1, 2026, during “account conversion.” More information regarding closing and account conversion can be found below. There may be other changes as the transition continues, but we will always keep you informed prior to such changes, including sending all regulatorily-required notices at their appropriate times. It will be important for you to ensure your contact information is accurate and up to date so that you will receive the said notices. If you think your contact information may be incorrect, please contact COPOCO by email at contactus@copoco.org or by phone at (800)292-2897.

Employees of COPOCO Community Credit Union will become employees of ELGA Credit Union. You can expect the same trusted people to serve members in the branch and over the phone.

Closing Process:

• After closing, all COPOCO deposit and loan products will be combined into ELGA CU’s records for accounting purposes. You may receive additional communications with details of any immediate changes to the account naming, structure, or fees in advance of closing. We’ll keep you informed of any such changes at least 30 days in advance of closing. Additional changes may occur later as part of the account conversion.
• After closing, deposit accounts will be insured by NCUA up to $250,000 per account category. The NCUA is a federal agency created by the United States Congress, which administers the National Credit Union Share Insurance Fund. If you are already a member of ELGA CU, the insurance limit is for the total combined balances, subject to certain other conditions. Please contact Mrs. Brenda Scramlin, VP of member services with COPOCO by email at BScramlin@COPOCO.org, or by phone at (989) 460-3628 if additional information is needed regarding this notice or the insured status of your account(s).
• Signage at COPOCO will transition to ELGA Credit Union
• COPOCO members will need to rely upon the former COPOCO locations only for service of existing accounts until all accounts are integrated at account conversion, which will occur on or before the weekend of March 1, 2026, as further discussed below. All COPOCO locations will be retained initially. It is expected that ELGA CU and COPOCO will combine Saginaw locations at some point in the future.
• Up until the system conversion planned on or before the weekend of March 1, 2026
  • COPOCO members will be able to use ATMs fee-free at current COPOCO branch locations with their COPOCO debit cards
  • All direct deposits (Social Security, payroll, etc.), automatic withdrawals or transfers, and any transactions (debit card transactions or checks) will continue to process and post to your account.
  • You can continue to use your existing COPOCO checks, debit cards and credit cards.
  • You will continue to receive your account statements as you do today. Following the transaction closing, your statement(s) will be updated to reflect ELGA Credit Union.

Account Conversion Process:

• The account conversion is tentatively planned for the weekend of March 1, 2026. You will receive important information about account conversion at least 30 days in advance of the transition of
• accounts and services as well as an outline of any changes being made to your accounts with ELGA CU, account terms and conditions, or fee schedule.
• COPOCO debit cardholders will be sent new ELGA CU debit cards. You’ll also receive a complimentary starter package of new checks and will be provided with updated information for your direct deposit and ACH transactions. You may continue to use your existing COPOCO debit cards and checks until your replacement cards and checks arrive. We expect that there will be no break in your ability to use the new ELGA CU debit card once it arrives.
• Following the account conversion planned for March 1, 2026, in addition to being able to make deposit and loan payments as you do today, you can also make loan payments at any ELGA Credit Union full-service branch location by mail to ELGA Credit Union, 6065 Grand Pointe Blvd., Grand Blanc, MI 48439, or visit www.ELGACU.com for more options.
• Following the account conversion, COPOCO’s current online and mobile banking platform will no longer be accessible, but digital banking services will be available at www.ELGACU.com. Directions regarding access and initial login will be sent in future communications, which will arrive no later than 30 days prior to the conversion.
• Following the account conversion, you will be able to use any branch or ATM within the network. For a full list of ELGA CU branch locations, ATMs, and nationwide CO-OP ATM locations, visit www.ELGACU.com.
• A final account statement will be sent. You’ll receive the account history since your last statement and through the month end prior to the account conversion.
• Following the account conversion, you will receive your first integrated ELGA CU account statement. Your first statement will serve as reference to verify balances, etc. by matching it to your former COPOCO statement.

How to Get Additional Information:

We know you will have additional questions, so we have a dedicated resource page at www.ELGACU.com/COPOCO/ with information about the transaction, closing, anticipated account conversion, and more. We have enclosed both Frequently Asked Questions (FAQ) with additional detail and a copy of ELGA CU’s privacy policy.

We are excited about this transition and look forward to serving you!

Sincerely,