Alps Federal Credit Union Merger

Dear ALPS Federal Credit Union Member,

Since our founding in 1960, ALPS Federal Credit Union (ALPS) has made it our mission to help enhance the financial future of our members and the communities we serve. We always strive to serve in a friendly, educational, safe, efficient, caring and personalized manner that meets our member's unique needs.

Your board of directors is committed to seeing that your credit union membership continues to provide meaningful value to you and the rest of our members. After careful consideration, the board has concluded that our members would be best served by partnering with Tongass Federal Credit Union (TFCU) via a member approved merger. The recommended merger would meet the credit union's goals of:

• Improving Capital Growth
• Expanding Products and Services
• Maintaining a Locally Serviced Credit Union
• Increasing Employee Opportunities
• Improving In-Person and Remote Access

A membership vote is required for this to move forward, and we request your support at a special Membership Meeting for this purpose on Saturday, January 21, 2023, as outlined in the enclosed Notice. The projected date for the merger to occur is February 1, 2023. Federal and state regulators have already given their approval for the merger.

We know change can be difficult, but we are excited about the opportunities that this partnership gives to our members. ALPS and TFCU are highly committed to providing a smooth transition and to seeing that our members are taken care of throughout this process and far into the future.

In anticipation of questions, there is a set of Frequently Asked Questions (FAQs) and Summary Merger Plan available with this notice. More information is also available online at www.alpsfcu.org/southeast-strong and at our Sitka or Petersburg branches. You are invited to attend the special membership meeting on Saturday, January 21, 2023 in which an open forum for questions and answers will be provided by representatives of both credit unions to ensure you have the knowledge needed to cast an informed vote. A member appreciation event is planned prior to the formal meeting.

On behalf of your ALPS Board of Directors, we hope that you will vote "YES" to support this merger so that we can continue to strengthen our ability to deliver excellent services and enhance the lives of you and your fellow members.