Joint Announcement

January 23, 2025 – NLCU and Reddy Kilowatt Credit Union are pleased to announce that their boards of directors have unanimously agreed to enter merger discussions. This step reflects a shared vision to build on the collective strengths of both organizations, enhance service offerings, and ensure long-term stability and growth for members in an evolving financial services environment.

Any potential agreement to formally recommend a merger will be subject to due diligence, regulatory approval, and approval by the members of both credit unions.

“This is a positive and forward-looking decision,” said Glenn Bolger, CEO of NLCU. “NLCU and Reddy Kilowatt Credit Union have long shared a strong commitment to member service, community impact, and cooperative principles. By entering these discussions, we are exploring how we can bring our strengths together to create an even stronger organization for the future.”

Maureen Singleton, NLCU Board President and Chairperson, emphasized the strategic nature of the decision. “Our Board is excited to explore a partnership that aligns so well with our values and long-term vision. These discussions are about growth, opportunity, and ensuring we continue to meet — and exceed — the needs of our members for generations to come.”

From Reddy Kilowatt Credit Union, Michelle Ward, General Manager, noted the shared enthusiasm for collaboration. “Reddy Kilowatt has a proud history of serving our members, and we see real potential in working alongside NLCU. These discussions allow us to thoughtfully explore how we can expand capabilities, strengthen our cooperative model, and continue delivering exceptional member

experiences.”

Carl Bishop, Chairperson of the Reddy Kilowatt Credit Union Board, added, “This is an exciting step for both organizations. Our Boards are aligned in their commitment to transparency, collaboration, and putting members first. We are optimistic about the possibilities this process presents.”

Throughout the process, both organizations are committed to clear and timely communication with members and stakeholders. Further updates and information will be shared on comingtogether4u.com as discussions progress.