The Quarterly Publication of IN THIS ISSUE

A Letter from the President A Letter from President & CEO, Chrissy Siders

Charter Change

Member Rebate

Lighthouse Group

Medical Debt Erased

Love My Credit Union

Annual Meeting

Student Choice

TruStage Insurance

Winter 2020

Asweendadecade,Ican’thelpbutreflectonnotjust2019,butthepast10yearsofexcellencedeliveredbyCPFederalCreditUnion.ThedecadebeganwiththeendoftheGreatRecession,despiteastill-laggingeconomy.We were proud to not only survive the Great Recession, but to meet the needs ofcountlessconsumersstrugglingthroughthelossofajoborahome. We gave a home away in 2010 through our Wish Upon a Home promotion, makingjoycommoninuncommonplaces. We launched our new online banking product in 2011 and began instant issuanceofflatcardsforourdebitandcreditcards. We launched online loan applications in 2012 and moved our Parma and Brooklynbranches. We continued our investment in technology in 2013 with an upgrade to our Teller24serviceandlaunchedourCPFederalAppformobilebanking.Wewererecognizedforthe1st year as a Top Workplace in 2014, which has proudly continued for the 6thyearin2019! Apple Pay was launched in 2015, providing you with a new technology foranotherquickandeasywaytotransact.WealsoaddedRemoteDepositCapturein2015,creatingaconvenientwayforyoutodepositchecksinyourjammies,rightfromyourphone! We partnered with the City of Jackson in 2016tosponsortheCPFederal

Chrissy Siders, President & CEO

CitySquareProject,creatingaspaceinJacksonforthecommunitytogathertoviewtheGliddenParkerMuralandenjoymoviesandothercommunityeventsattheamphitheater.WerelocatedourDowntownBranchtotheInnovationCenter.Wealsocelebrated25yearsoftheFinancialEducationprogram,whichbeganin1991.Wesawsignificantchangein2017whenwetransitionedleadershipandcompletedasystemupgrade. 2018 brought a branch to Grass Lake and another move for our Brooklyn branch as well as EMV-chipenabledcards. 2019broughtusexpansioninanewgeographicareawithabranchinSaline. Tosayithasbeenanamazingdecadeisanunderstatement!Asweembarkon2020, we remain committed tolivingoutourpurposeofinspiringthepursuitofalifewelllived.Ourpurposedriventeamispoisedandreadyfor2020!Ourprioritiesinclude:identifyingnewtechnologiestomeetourgrowingmemberneeds,deliveringourbrandpromise,deepeningourmemberrelationshipsandengagingandgrowingourwickedly-talentedteam.Ourfocuswillcontinuetobeexceptionalstewardshipofallinterestsentrustedtoourcareandafocusonpeopleoverprofit,processandproduct. Webelieve2020willbeoneofourbiggestyearsyetasweseekacharterchange.Detailedinformationaboutthisexcitingchange is includedonpage2ofthisnewsletter!Weremainfocusedonthehumancapitalof our organization and every life-changing moment along the way. We want to be your partner in writing alifestorythatstretchesbeyondyourimagination!Wecan’twaittopartnerwithyou,yourfamily,friendsandourcommunitiesin2020andbeyond.

Special Announcement: Charter ChangeCP Federal Credit Union has filed anapplication to change from a federal chartered credit union to a Michigan state chartered credit union. The decision tofile an application to change emergedafter months of research and evaluation by our Board of Directors and executivemanagementteam.

As a federal credit union we can only serve those who are eligible to join ourcredit union. Our ability to expand ourmembership eligibility is restricted under federal law. As we continue to meetthe needs in the Jackson community, open new branches and move into new markets, we believe that the federal fieldof membership rules impair our ability to meettheneedsintheirentirety.

Although we are a very financially strongcreditunionanddonotneedtoexpandinthe short term, in order to make sure that our credit union services are available for thenextgenerations,andtoremaintruetoourmissionofcultivating legacy-definingmoments for the people and places we serve for generations to come, we believe that this is a proactive move to help ensure thelongtermviabilityofourcreditunion.

If we choose to move forward with a conversion, we will be able to serve all

We are CP Federal, and we’re proud to be Community Powered since 1953.

To learn moreabout insurancesolutions for yourhome, auto, life orbusiness, pleasecontact us todayat 616.698.7373

persons who live, work, worship, or attend school in the State of Michigan. As afederal credit union, we would not be able toservesuchabroadfieldofmembership.If we do convert to a Michigan state chartered credit union all of our deposits will continue to remain federally insured by the National Credit Union Share Insurance Fundtoatleast$250,000.00.

A final decision on the conversion hasnot yet been made. The final decisionon whether to convert rests with you, our members. Ifourapplicationisapproveda special meeting of the members will be called and all of our members will have theopportunitytovoteontheconversion.If we decide to move forward with a conversion recommendation a meeting and vote will likely be held sometime in thespringorsummerofthisyear.

Although we are considering changing our charter, we will never change our commitment to our members, employees and the communities and groups that we serve. Theonly thing thatwill change isour ability to share this commitment with morepeopleandcommunities.Becausethis is a big decision we want to make sure that you remain informed at every step in theprocess. Stay tuned formoredetailsastheydevelop.

As a way to show our appreciation for your membership with us, we aregivingbackcash!OurBoardof Directors has approved a 6% InterestRebateandBonusDividend!*2020InterestRebate&BonusDividend.ExcludesIRAs,TermShareCertificates,BusinessLoans,BusinessAccounts,Visa&AutoLeases.SomeRestrictionsMayApply.

Member Rebate

Nine Credit Unions Partner to Erase $2.5 Million of Medical Debt for Families in Mid-MichiganThis past Fall we partnered with the eight other credit unions comprising the Southern Michigan (SoMi) Chapter of Credit Unions,foronebigannouncement.OntheTuesdaybeforeThanksgiving,apressconferencewasheldannouncing theSoMiChapter’sgiftof $25,000 toRIP Medical Debt, a 501(c)(3) non-profit organization. RIP Medical Debt uses donations likethis one to purchase medical collection accounts at a greatly reduced cost, increasing the impactofthe$25,000byonehundredtimes.Ourcollaborativeeffortwillabolish$2.5millioninmedicaldebtfor3,182peopleinJackson,Lenawee,Hillsdale,CalhounandWashtenawcounties.At CP Federal, we strive each day to cultivate legacy-defining moments for the people andplaces we serve. We’re honored by the opportunity to make joy common in an uncommonplace by erasing the burden of medical debt for families right here in our community.

CPFederalCreditUnion isexcitedtoofferyouexclusivediscountsandbenefitsonproductsandservicesyouuseeveryday.Creditunionmembershavealreadysavedover$1.4billionwithLoveMyCreditUnionRewardsdiscounts.So,alongwithlowerloanratesandfewerfees,here’sanotherwayyoucansaveevenmore.

The more offers you take advantage of, the more you save. Start saving today at LoveMyCreditUnion.org.

SwitchtoSprintandget$200CASH,pluslines3,4and5forfree!Inaddition,you’llreceivea$100loyaltycashrewardeveryyearand25%offselectaccessoriesinSprintstores.Saveupto$15onTurboTaxFederaltaxproductsGet a free home security camera plus 2 free months of 24/7 professional monitoring ($150value)withthepurchaseofanewSimpliSafesecuritysystem.Earncashbackwhenyoushopatover1,500onlineretailerswithLovetoShop

UPCOMING EVENTS

BOARD OF DIRECTORS

• Jan. 25-FREEzeSK8Event @ Optimist Ice Arena from 12:30-4p.m.• Feb. 17 - CLOSED for President’s DayandreopeningonFeb.18• Feb. 28 - Mar. 1 - Home & GardenShow@American1 Credit Union Event Center• Feb. 29 & Mar. 1 - The Music of Harry Potter @ Jackson Symphony Orchestra• Mar. 21 -GrassLakeExpo& Craft Show @ Grass Lake High School• Apr. 16 - Annual Meeting @ MainOfficefrom3-4p.m.• Apr. 28-CPFederalCredit Union’s Birthday

Chair, Quentin GuinnVice Chair, James TyslenkoSecretary, Jo Ann RandTreasurer, Tim DentonDirectors: L.KeithAckerJosh BurgettRonald ParzychRegina PinneyDennis DeCostaKarenRichardAssociate Directors: Angela WetherbyChelsea PageNeilFernandesSupervisory Committee:Chair, Carl Gilzow KenRudolphShari Smith Walters

Join Us For Our Annual MeetingMarkyourcalendars forCPFederalCreditUnion’sAnnualMeeting. The meeting will be held on Thursday, April 16th from3-4p.m.ThemeetingwilltakeplaceonthesecondflooratourMainOffice-1100ClintonRoad,Jackson.

FederallyInsured

by NCUA

For any questions regarding your statement, please submit them in writing to: Supervisory CommitteeCPFederalCreditUnion1100ClintonRd.,Jackson,MI49202

Please submit, in writing, any letters for the Board of Directors to: Board of DirectorsCPFederalCreditUnion1100ClintonRd.,Jackson,MI49202

TruStage insurance products are only available to credit union members. Your membership means competitive rates, helpful guidance without sales pressure and quality products trusted by your credit union. Regardless of your budget, we can help make sure the protection you need makes sense. It’s all part of smart planning and caring about the aspirations and achievements of those who matter most.

TruStage™ Insurance products and programs are available through TruStage Insurance Agency, LLC. Life insurance and AD&D insurance are issued by CMFG Life Insurance Company. Auto and Home Insurance Program are issued by leading insurance companies.The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by your credit union.

DTCG-990379.1

insurance built for credit union members like youExclusively for credit union members

Trustage™ INSURANCE PRODUCTSCall us, we’ll help you understand all of your options so you can choose the one that is best for you and your family.

Life and AD&D 1-855-612-7909Auto & Home 1-888-380-9287Visit us at TruStage.com

Simplify Your Student Loan RepaymentOnce you’ve graduated, student loan repayment can be a burden.Oftentimesgraduatesfindthemselvesmanagingloans from more than one organization, with multiple payment dates and high rates. At CP Federal, we offerrefinancingsolutionsthroughourpartnershipwithStudent Choice, giving you the opportunity to consolidate all your privateandfederalstudent loans intoasingle loan.Evenbetter is that you may potentially lower your monthly paymentandreduceyourinterestrateintheprocess.Weoffercompetitive interest rates,flexible repayment terms,no origination fees or prepayment penalties and an easy online application. If you’re interested in learning moreabout our refinancing and private loan programs, visitcpfederal.studentchoice.org.