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Dear Member/Owners of Alliant Credit Union,

You may have read in the press that three "big credit unions" were taken over by the government recently. Here are some points we want you to know:

Corporate credit unions are different from every-day credit unions like Alliant
These "corporate" credit unions are not regular credit unions like ours that serve consumers. There are a small number of wholesale institutions that do not serve consumers; they provide liquidity, investment and payments services to credit unions like ours. It was three of these "corporate" credit unions that were placed into conservatorship, which means they are still operating normally but the U.S. government has taken them over.

Alliant Credit Union's deposits at corporate credit unions are guaranteed by the federal government
The deposits that regular credit unions, like Alliant, have in these "corporates" are federally guaranteed and backed by the full faith and credit of the U.S. government. The funds we have invested in these corporate credit unions are fully protected. And as such, Alliant will not incur a financial loss as a result of this action.

No cost to U.S. Taxpayers
Costs incurred by the government in taking over these corporate credit unions will not cost U.S. taxpayers anything. Rather, the credit unions' insurance fund will cover the cost associated with this action.

Business as usual for us
What does all this mean for members of our credit union? It's business as usual. The same level of quality service you receive from our credit union will continue. Our service to you is not affected by these government actions.

Alliant Credit Union members' savings insured up to $250,000 per member/owner
And of course your own funds here are perfectly safe. Our credit union is also federally insured up to $250,000 by the National Credit Union Share Insurance Fund and backed by the full faith and credit of the U.S. Government, just as the FDIC does for bank deposits. No credit union member has ever lost a dime of federally insured funds.

Alliant Credit Union is well capitalized
We are very well capitalized. Our capital cushion is stronger than you would find at most banks. Our capital-to-assets ratio is nearly 10%. That's considerably higher than the 7% industry standard for being "well capitalized." This 10% capital means Alliant Credit Union is well positioned to absorb the costs of this action by the agency with no impact on our members.

Serving members like you for 75 years
Alliant Credit Union will celebrate its 75th anniversary next month, serving our member/owners through good times and bad. And I am happy to report that we are still safe, secure, and a great value, well positioned to remain strong.

Sincerely,

David Mooney
President/CEO
Alliant Credit Union