QUARTERLY CONNECTIONS SPECIAL EDITION + YOUR ORGANIZATION THE VALUE OF MEMBERSHIP I want to take this opportunity to address you, our member/owners, for the last time. We are moving closer to our merger with City & County Credit Union, with progress being made on a daily basis. I want to assure you that the value and service you have come to expect from your organization will continue both now and into the future. What will the merger mean to you, our member/owners? A substantially enlarged foot print in the Twin Cities financial marketplace. Mill City is the west component and City & County is the east entity in the new merger. Rebranding will be taking place as Mill City offices will be branded Mill City a division of City & County Credit Union. More physical locations to complete your business. An example of the progressive nature of the combined organization is that City & County recently constructed a new branch location in Eagan, and Mill City has expanded our footprint with our new construction in Brooklyn Park. Enhanced rates, through economies of scale (this has already begun), and expanded services. All staff members of Mill City have been offered employment in the combined organization. You may still use the same offices and have the same service delivered by the team members you have come to know and respect. To display our confidence in the outcome of the merger I would like to reference the May Meeting of your Board of Directors. At that meeting your elected officials voted unanimously in favor of this merger. This was followed by a Special Meeting of the Membership where you confirmed the board s vote with an affirmative vote in support of the action. It is a highly strategic move to combine two exceptional, safe and sound organizations for future benefit by entering into a merger of equals. This is a pioneering move by our organization and I am not surprised others question it - they are limited by what they have seen others do in the past, while we are enabled by a vision of what is possible for our members in the future. Peter McDonald, Chairman of the Board I ask you, our member/owners, to be patient with the process as we build a better organization for you. All offices (nationwide) will remain open. Your recognized staff will continue to serve you. All leadership team members, with the exception of myself, move into leadership roles in the combined organization. Two of our exceptional board members move onto the board of the organization with the focus of improving the lives of all member/owners. As previously mentioned, I will not be moving forward because I am retiring after a 39 year career in credit unions. I joined the exceptional Mill City CU/General Mills FCU team 18 years ago and leave proud of what we have built together. It has been my honor to serve you by always attempting to Do What s Right Every Day! I am confident in the future leadership as we leave the organization in highly competent hands. Like you, I am a member/owner and will be watching the future progress of the organization. I ask for your patience and encourage you to embrace the future vision. Think of the possibilities! Respectfully, Kent Greff SPECIAL EDITION 1
CONVERSION DATES January 1, 2019 is the legal date for the merger of Mill City Credit Union and City & County Credit Union when you ll begin to see our co-brand logo, Mill City a division of City & County Credit Union. People helping people is what credit unions were founded on, and City & County Credit Union is no different. Sure, we were 2 credit unions and now we are becoming 1, but that doesn t mean we ll lose the local feel, will forget your name or are bound to start acting corporate. No, instead we are determined to make sure you feel what any member of a credit union should feel: that we re all in this together. Keep watching your mail, email and millcitycu.com/better-together for the latest updates on the merger and to see where we are headed. The way you access your account will not change until the system conversion which is targeted for June 1, 2019. YOUR NUMBERS We ve discovered duplicate account numbers between Mill City and City & County. This means member numbers (share/savings account) will be updated to a nine-digit number. One repeating number will be added to the front of your existing number to make it nine digits. Ex: 123456 will become xxx123456. Plans have been made to use technology so that ACH and checks continue to clear. Look for a communication related to updated account numbers in May. The routing number associated with Mill City can remain in place for three years meaning current checks and established payments will continue to clear. There will be a mass reissue of checks prior to the sunset of the Mill City routing number. 2 QUARTERLY CONNECTIONS
2019 HOLIDAY SCHEDULE HOLIDAYS JANUARY 1 The Holiday Schedule will change in 2019 and going forward to align with Federal holidays. If you transact in an office related to a General Mills location, your local office may be open on select Federal holidays. Consult your branch office. January 1, 2019 NEW YEAR S DAY January 21, 2019 MARTIN LUTHER KING JR DAY February 18, 2019 PRESIDENTS DAY May 27, 2019 MEMORIAL DAY July 4, 2019 INDEPENDENCE DAY September 2, 2019 LABOR DAY October 14, 2019 COLUMBUS DAY November 11, 2019 VETERANS DAY November 28, 2019 THANKSGIVING DAY December 25, 2019 CHRISTMAS DAY DEBIT CARDS Debit cards will be reissued to everyone who currently has one. CardValet will not be available. COUPON BOOKS If you have a loan and use coupon books, you ll receive a new book containing coupons for the remainder of your loan term. PHONE SERVICES The 800 number for Member Connections will remain the same. You ll get a new PIN for 24 x 7 phone banking. e-services Virtual Branch will change to City & County s online banking. Prior online transaction history will not move to the new system. Alerts and scheduled transfers will need to be set up again. My Wallet will not be available in online banking. Credit scores will be available in online banking and will be called FICO scores. They will not include a credit report. Bill Pay will remain and be incorporated into the new online banking system. Mobile Money will be replaced by City & County s PC First mobile app. BETTER TOGETHER We have some exciting product enhancements coming including: Get the mobile app without needing to enroll in online banking first! Health Savings Accounts (HSAs) Business loans Safe deposit boxes Debit card rewards programs! STATEMENTS You ll receive your final statement from Mill City in June for the month of May. You ll receive your first statement from City & County Credit Union in July for the month of June. Both will be paper statements via postal mail. Retain your final Mill City statement for year-end purposes. (put it with your tax papers) estatements will be available in online banking. The number of prior statements that will be available is still being worked on. SPECIAL EDITION 3
THE MINNESOTA CREDIT UNION FOUNDATION RECOGNIZES KENT GREFF, BOB KIRK AND EARL ROBERTSON AS CREDIT UNION BUILDERS. Created in 2008, the Credit Union Builder Award honors an individual s dedication to the success, growth, and vitality of the not-for-profit financial movement in Minnesota. Dedications are typically made at a special time of significance to acknowledge an individual s contributions to credit unions. MILL CITY CREDIT UNION RECENTLY HONORED THREE CREDIT UNION BUILDERS: KENT GREFF joined the credit union movement in 1979. He since has served across three states, four credit unions, two countries (Paraguay and Poland), plus volunteer leadership roles in multitude. He became President/CEO of Mill City Credit Union in 2000. Greff is a two-time recipient of the Minnesota Credit Union Network Professional of the Year award, and was inducted into the National Credit Union Hall of Leaders in 2017. Greff will be retiring at the end of 2018. BOB KIRK joined Mill City CU as a Board Member in 2002, following the General Mills acquisition of Pillsbury and the GMFCU merger with Pillar, Pillsbury s credit union; he has at least twenty combined years of service. He served as the Chairman of the Board from 2004-2015. From 2015 through the present Bob has served the organization as the Vice-Chair of the Board of Directors. Professionally, Bob retired from General Mills after a 31-year career as a leader in the finance function. Bob Kirk is a very deserving individual and should be recognized with the Credit Union Builder Award. He provided unwavering leadership through a period of dramatic growth, opportunity, and challenge. He was the right leader at the right time for our organization. Bob s keen insight and his ability to get to the core of an issue or problem are uncanny. He is an exceptional leader and a credit to our organization and the credit union movement. EARL ROBERTSON has been instrumental in the credit union movement since 1958. He joined Mill City Credit Union in 1973 and has been a volunteer since January 1983. He started out his journey as a Credit Committee member and was elected to the Board of Directors in 1990. His thirty-five years includes holding the position of Director, Secretary, Vice-Chair, and Chairman of the Board. He has seen the organization grow from a one office, 4 employee staff, with $15 million in assets to a complex organization with offices in several locations around the country with $350 million in assets. There is not a more deserving individual to be awarded the Credit Union Builder Award than Earl Robertson. With sixty years of involvement in our industry it stands to reason that he is a dedicated and committed individual. He stands as a shining example of what is right in our movement as he epitomizes the true cooperative spirit on which this industry stands. The names of the recipients and the contributing credit unions are permanently displayed in the Minnesota Credit Union Network s lobby as a tribute to those who have dedicated time and energy to building the credit union movement. KENT GREFF Kent is fiercely passionate about giving members the best while being good stewards of their money. He leads with integrity by example and is a motivational leader. Members and employees are the reason for his day. BOB KIRK I am very proud and privileged to work with the exceptional Mill City CU leadership team. Our board is also exceptional and brings expertise in many functional areas. EARL ROBERTSON It has allowed me to work with a very professional staff and board to continually participate in the process to help members solve their financial problems and to help them create wealth on a low risk basis. 4 QUARTERLY CONNECTIONS
THANK YOU TO OUR BOARD BOARD OF DIRECTORS Paul Boyer since 2015, Director *Rebekah Ferguson since 2013, Secretary Martha Gschneidner since 2010, Director Cam Hoang since 2009, Director STILL HERE TO SERVE As Mill City Credit Union works towards the merger of Mill City CU and City & County Credit Union, we want to make sure that all of the members and clients of Mill City Investment Services know one thing, we are still here, and committed to meeting the needs of the members of Mill City. Mill City Investment Services will retain the same Financial Advisors, the same offices in their current locations, the same phone numbers, and the same commitment to service. The only change you may notice will be with our email addresses, which are listed below for your convenience. We also would like to remind you that Tom Walker and Brad Palmersheim would be happy to review your investment program if you have not been contacted by your Financial Advisor during the volatile market conditions we have been experiencing. Both Tom and Brad are seasoned Advisors who have been through multiple market cycles, giving them the perspective to be able to assist you and provide guidance. To learn more, contact one of our Financial Advisors or their assistants at Mill City Investment Services. Geoff Johnson since 2013, Director *Chad Kerlin since 2012, Director Bob Kirk since 2003, Vice Chair Peter McDonald since 2010, Chair Earl Robertson since 1983, Director SUPERVISORY COMMITTEE Andrew Deising since 2009 Thomas Gergen since 2018 Joe Piepgras since 2009 *will serve on City & County board SCHEDULE A NO OBLIGATION FINANCIAL PLANNING APPOINTMENT MEET THE FINANCIAL ADVISORS AT MILL CITY INVESTMENT SERVICES Securities and investment advisory services offered through Cetera Networks LLC, member FINRA/SIPC. Cetera is under separate ownership from any other named entity. Neither Cetera Advisor Networks, LLC, nor any of its representatives may give legal advice. INVESTMENTS ARE: Not NCUSIF Insured Not a Deposit Not Credit Union Guaranteed Thomas Walker, ChFC Minnetonka Office 10653 Wayzata Blvd Minnetonka, MN 763-764-6963 walkert@ceteranetworks.com Mary Almlie, Assistant: 763-764-6911 May Lose Value Not Insured by any Federal Government Agency Brad Palmersheim Champions Center Office 1 General Mills Blvd Golden Valley, MN 763-764-6948 palmersheimb@ceteranetworks.com Sandy Lange, Assistant: 763-764-6945 SPECIAL EDITION 5
IMPORTANT Merger Information In this issue Message from the President/CEO...1 Important merger/conversion dates...2 2019 Holiday Schedule, June 1 changes with system conversion...3 Board Member Recognition... 4-5 Mill City Investment Services...5 IMPORTANT Merger Information Insured by NCUA