Alcoa Pittsburgh Federal Credit Union Merger Vote

"Change is our constant companion", was a saying often used by Alcoa's former CEO, Paul O'Neill - a reminder of how dynamic the world around us is. Today, I am writing to share an important change for our credit union.

After careful consideration and planning, we are pleased to announce that Alcoa Pittsburgh Federal Credit Union intends to merge with CHROME Federal Credit Union. This merger, with CHROME as the surviving entity, is expected to take place in the coming months and will position us to better serve you while maintaining the values we have always upheld.

The decision to merge stems from a very personal circumstance. Last year, while in the office, our extraordinary manager, Lisa Balcer, had an acute cardiac event. Since then, Lisa has been unable to return to work and is now on long-term disability. Many of you know Lisa well - her passion for our credit union and its members was truly unmatched. Over her nearly 37 years of service, Lisa tripled the size and profitability of our credit union and built an institution we are proud of today.

After a lot of discussion among Lisa, the Board, and myself, we unanimously agreed that the best way to honor Lisa's legacy and secure the future of the credit union was to find the right partner. Thanks to our strong financial position, we were able to be selective. After meeting with several large credit unions, we found that CHROME Federal Credit Union shares the same values and member-first philosophy that have always defined us. CHROMEs leadership team feels the same way - and for the past few months, we've been working together to make this transition as smooth as possible. As we look to the future, once the merger is approved by our membership, I will join the CHROME Board of Directors, which will be an integral part of our credit union's future.

Alcoa Pittsburgh and CHROME Federal Credit Unions are financially strong, each boasting a robust capital base of approximately 15%. This merger is a strategic decision to expand the services and benefits we provide to you, our valued members.

Partnering with CHROME Federal Credit Union - which has assets of $200 million compared to our $35 million will bring significant advantages for you:

• Enhanced Financial Products and Services: Access to a wider range of products and services tailored to your diverse needs.
• Improved Technology: Modern banking platforms that make managing your finances more convenient and efficient.
• Increased Scale and Stability: A larger, stronger institution dedicated to maintaining high­ quality service and financial security.
• Expanded Branch Network: More branch locations for greater in-person banking convenience.
• Better Rates and Lower Fees: Increased assets and efficiencies that aim to deliver better rates and reduced fees for our members.
• Enhanced Member Support: Additional resources to ensure you receive prompt, effective assistance whenever you need it.

We understand you may have questions about this transition, and we are here to provide you with all the information and support you need. Please visit https://www.AlcoaPittFCU.org/Merger-FAQ/ for the most up-to-date details on the merger. Our member services team is ready to answer any questions you may have. They can be contacted at 412-553-3100.

Thank you for your continued trust and loyalty. We are excited about this new chapter and look forward to a bright and prosperous future together as part of CHROME Federal Credit Union.