On May 6, 2025 the Board of Directors of your credit union approved a proposition to merge with DayMet Credit Union and to convert from federal share (deposit) insurance to private insurance. You are encouraged to attend a special meeting of our credit union at Premier Health Atrium Medical Center, 1 Medical Center Drive, 5th Floor - Professional Building, Middletown, OH 45005 on February 26, 2025 at 4:30 PM (ET) to address this proposition. You can also join the meeting virtually at CUBallot.com/Atrium4U-Meeting. Please note that you will need to enter your account number and the last four digits of your Social Security Number to join the meeting online.
Purpose of Meeting
The meeting has two purposes:
- To consider and act upon a proposal to merge our credit union with DayMet Credit Union, the continuing credit union.
- To approve the action of the Board of Directors of our credit union in authorizing the officers of the credit union, subject to member approval, to carry out the proposed merger.
If this merger is approved, our credit union will transfer all its assets and liabilities to the continuing credit union. As a member of our credit union, you will become a member of the continuing credit union. On the effective date of the merger, you will receive shares in the continuing credit union for the shares you own now in our credit union.
Insurance Conversion
Currently, your accounts have share insurance provided by the National Credit Union Administration, an agency of the federal government. The basic federal coverage is up to $250,000, but accounts may be structured in different ways, such as joint accounts, payable-on-death accounts, or IRA accounts, to achieve federal coverage of much more than $250,000. If the merger is approved, your federal insurance will terminate on the effective date of the merger. Instead, your accounts in the credit union will be insured up to $250,000 by American Mutual Share Insurance Corporation (American Share), a corporation chartered by the State of Ohio. The federal insurance provided by the National Credit Union Administration is backed by the full faith and credit of the United States government. The private insurance you will receive from American Share, however, is not guaranteed by the federal or any state or local government.
| IF THIS MERGER IS APPROVED, AND THE DAYMET CREDIT UNION FAILS, THE FEDERAL GOVERNMENT DOES NOT GUARANTEE YOU WILL GET YOUR MONEY BACK. |
Other Information Related to the Proposed Merger
The directors of the participating credit unions carefully analyzed the assets and liabilities of the participating credit unions and appraised each credit union's share values. The appraisal of the share values appears on the attached individual and consolidated financial statements of the participating credit unions.
The directors of the participating credit unions have concluded that the proposed merger is desirable for the following reasons:
Celebrating over 66 years, DayMet Credit Union has a full range of products and services, including those that you currently enjoy, along with other benefits such as
- Two Additional Locations with Drive Thru and Expanded Hours of Operation, Including Saturdays at One Location
- Increased Member Support Team for In Person, Phone and Online Assistance
- Direct Deposit NOW (Members Can Receive a Direct Deposit Up to 3 Days Sooner)
- Access to CO-OP's 5,600+ Shared Branch Locations and 30,000+ Surcharge-free ATMs
- Mobile Wallet for iPhone and Android
- Free Carfax Report with Loans
- Online Membership Opening and Account Opening for CDs, Sub Savings and Money Market Accounts
- 2% Cashback on Purchases with DayMet Credit Card
- Free Credit Score Services to All Members via Online Banking
The Board of Directors of our credit union believes the merger should not include an adjustment in shares for the following reasons: our members will gain access to improved products and services upon completion of the merger. Additionally, the share value of DayMet Credit Union will not materially change upon successful completion of the merger.
The main office of the continuing credit union will be as follows:
- 4988 Wagner Ford Road, Dayton, OH 45414
The branch offices of the continuing credit union will be as follows:
- 6051 Market Avenue - Suite C, Franklin, OH 45005
- 3199 South Dixie Drive, Moraine, OH 45439
NCUA Regulations require merging credit unions to disclose certain increases in compensation that any of the merging credit union's officials or the five most highly compensated employees have received or will receive in connection with the merger. The following individuals has or will receive such compensation:
| Name | Title | Description of Increase | Amount |
|---|
| Cindy Cottengim | Manager/CEO | Bonus Pay | $100,000 |
The merger must have the approval of a majority of members who vote on the proposal, provided at least 20 percent of the total membership participates in the voting.
Enclosed with this Notice of Special Meeting is a Ballot for Merger Proposal and Conversion to Nonfederally-insured Status. If you cannot attend the meeting, please complete the ballot and return it to E Space Communications Inc., PO Box 3156, Dublin, OH 43016 by no later than 4:30 PM (ET) on February 26, 2025. To be counted, your ballot must reach E Space Communications Inc. by the date and time announced for the meeting.
By order of the Board of Directors
Amy Newland
Chairperson of the Board of Directors
January 28, 2025