Team & Wheel Federal Credit Union Merger Vote

On behalf of the Board of Directors of Team and Wheel Federal Credit Union (Team and Wheel), I am pleased to share exciting news. We have received regulatory approval to pursue a merger with American Partners Federal Credit Union (APFCU).

Team and Wheel's Board of Directors and leadership team support this merger. However, the final decision is up to you. You are being asked to vote on a proposal for a merger with American Partners Federal Credit Union, a credit union with branches in Virginia and North Carolina, and many other branches through the Shared Branching Network.

Unlike bank mergers that are designed to make money for stockholders, this merger represents a partnership between two local credit unions that are committed to members and the communities they serve. Additionally, the combined organization will be better positioned to expand its product, service, branch network, and technology offerings in a financial services sector that is constantly evolving.

Your vote is very important. A merger between Team and Wheel and American Partners Federal Credit Union must be approved of a majority of members of the credit union voting on the proposal.

Along with this letter, you will find a Notice of Special Meeting, and a ballot, which include instructions for your vote.

We recommend that you vote "APPROVE" the proposed merger with American Partners Federal Credit Union. The decision to propose the merger has been carefully considered by your Board of Directors, and we believe it is in the best interests of our membership. To be counted, your ballot must reach us by the date and time announced for the meeting and noted on the enclosed ballot. We greatly appreciate your membership and thank you for your support

Here are a few key reasons why we urge you to vote in favor of this merger:

1. Greater Access to Services: By merging with APFCU, you will gain access to an expanded suite of services. This includes real estate lending options such as mortgages and Home Equity Lines of Credit (HELOCs), services that we currently do not offer at the same scale. These products will provide you with greater flexibility in managing your financial needs, whether you are buying a home, refinancing, or tapping into your home’s equity for personal or investment purposes.
2. Access to the Shared Branch Network: APFCU is part of the Shared Branch Network, which allows you to conduct your banking at over 5,000 credit union branches across the country, as if you were at the Team and Wheel branch. This added convenience means that no matter where you are, you can access your accounts, make deposits, withdrawals, loan payments, and more.
3. Enhanced Technology and Digital Services: With this merger, members will benefit from enhanced online and mobile banking services, including more robust tools for managing accounts, transferring funds, and paying bills. APFCU has made significant investments in technology, and we are excited to bring these innovations to you.
4. Improved Member Benefits: You will have access to lower fees and better rates on loans and savings products thanks to the economies of scale created by the merger. This means more of your hard-earned money stays in your pocket, and you can continue to count on competitive financial products that meet your needs.
5. Strength and Stability: By joining forces with APFCU, we will strengthen our balance sheet, creating a more robust and resilient financial institution. This merger will allow us to leverage the combined resources and expertise of both organizations, ensuring we continue to offer competitive rates and services while protecting your assets.

We believe this merger will provide you with enhanced services and greater opportunities.

Thank you for being a valued member of Team & Wheel Credit Union. Should you have any questions or wish to discuss this further, please don’t hesitate to contact us.