NOTICE OF MEETING OF THE MEMBERS OF LIFE CREDIT UNION

The Board of Directors of Life Credit Union have called a special meeting of the members of this credit union at [location, address], on [month, day, year] at [time].

The purpose of this meeting is:

  1. To consider and act upon a plan and proposal for merging Life Credit Union with and into Fortera Credit Union (hereinafter referred to as the “Continuing Credit Union”), whereby all assets and liabilities of the Life Credit Union will be merged with and into the Continuing Credit Union. All members of Life Credit Union will become members of the Continuing Credit Union and will be entitled to and will receive shares in the Continuing Credit Union for the shares they own in Life Credit Union on the effective date of the merger.
  2. To ratify, confirm and approve the action of the Board of Directors in authorizing the officers of Life Credit Union, subject to the approval of members, to do all things and to execute all agreements, documents, and other papers necessary to carry out the proposed merger.

The Board of Directors of Life Credit Union encourages you to attend the meeting and vote on the proposed merger. Whether or not you expect to attend the meeting, we urge you to sign, date and promptly return the enclosed ballot to vote on the proposed merger.

If you wish to submit comments about the merger to share with other members, you may submit them to the National Credit Union Administration (NCUA) at https://www.ncua.gov/support-services/credit-union-resources-expansion/credit-union-merger-resources/comments-proposed-credit-union-mergers or:

NCUA – Office of Credit Union Resources and Expansion
1775 Duke Street Alexandria, VA 22314
RE: Member-to-Member Communication for: Life Credit Union Merger

The NCUA will post comments received from members on its website, along with the member's name, subject to the limitations and requirements of its regulations.

Other Information Related to the Proposed Merger:

The Board of Directors has carefully evaluated and analyzed the assets and liabilities of the credit unions and the value of shares in both credit unions. The financial statements of both credit unions, as well as the projected combined financial statement of the continuing credit union, follow as separate documents. In addition, the following information applies to the proposed merger.

Reasons for merger: With the upcoming retirement of Life’s CEO, Pam Nolen, the Board of Directors looked to the future with one goal in mind: strengthening our commitment to bring the greatest value and best possible experience to our members and staff while ensuring that we continue to thrive in an ever-changing financial services industry.

Remaining true to our people helping people mission, Life and Fortera Credit Union can together offer our members the resources and stability of a premier financial institution. This partnership provides Life members with the added convenience of enhanced products, member support services and a full-service Contact Center that is available to serve you 24 hours a day, 7 days a week. Branches in Nashville, Clarksville and Hopkinsville, as well as a nationwide Shared Branch Network, expanding your ability to access your money wherever you are.

Net worth: The net worth of a merging credit union at the time of a merger transfers to the continuing credit union. Life Credit Union does not have a higher net worth ratio than Fortera Credit Union.

Share adjustment or distribution: No share adjustments will be made.

Locations of merging and continuing credit union: Life Credit Union's main office at 2004 Hayes Street, Suite 120, Nashville, TN. 37203 will remain open. Fortera Credit Union has the following shared branch locations that are near Life Credit Union:

Address Type of Location
917 Rivergate Pkwy Goodlettsville TN 37072 Shared Branch
1313 21st Ave Nashville TN 37232 Shared Branch
89 Hermitage Ave Nashville TN 37210 Shared Branch
925 Bell Rd Nashville TN 37013 Shared Branch
7527 Highway 70 S Nashville TN 37221 Shared Branch
1400 8th Avenue S Nashville TN 37203 Shared Branch
10 Rachel Dr Nashville TN 37214 Shared Branch
2340 Jackson Downs Blvd Nashville TN 37214 Shared Branch
2618 Old Lebanon Rd Nashville TN 37214 Shared Branch
801 Broadway Ste Cafe Nashville TN 37203 Shared Branch
983 Nissan Dr Smyrna TN 37167 Shared Branch
509 Enon Springs Rd E Smyrna TN 37167 Shared Branch
1282 NW Broad St Murfreesboro TN 37130 Shared Branch
716 Nashville Pike Gallatin TN 37066 Shared Branch
270 Indian Lake Blvd Hendersonville TN 37075 Shared Branch
1809 Mallory Lane Brentwood TN 37027 Shared Branch
580 Franklin Dr Ste 100 Franklin TN 37069 Shared Branch
1207 Liberty Pike Franklin TN 37067 Shared Branch

Changes to services and member benefits: When vetting potential merger candidates, Life Credit Union found Fortera’s suite of products and services offered the best value proposition for improvements to existing services and member benefits. Over time Life members will be converted to similar Fortera products and services, which may have different features due to Fortera’s vendor relationships and infrastructure. Examples include migrating from Visa to Mastercard services and transitioning from Kasasa to Fortera’s Checking Account options. Life’s credit life and credit disability loan insurance will transition to Fortera’s debt protection insurance. Members will gain access to CO-OP Shared Branch Network, improved mobile and online capabilities, video banking, online loan applications and business lending services.

Please note that the proposed merger must have the approval of the majority of members who vote.

Enclosed with this Notice of Special Meeting is a Ballot for Merger Proposal. If you cannot attend the meeting, please complete the Ballot and return it to [mailing address]. To be counted, your Ballot must be received by [month, day, year] at [time of special meeting].

BY THE ORDER OF THE BOARD OF DIRECTORS:

President

Date