Sweetwater Federal Credit Union Merger Election

Dear "Member"

Over the last several months, the management team of Sweetwater FCU has been evaluating the performance of the institution in light of its ongoing ability to meet member expectations as well as the long-term sustainability of value to the membership.

After a comprehensive analysis it was the opinion of the Board of Directors that the best direction for the future of Sweetwater FCU lies in a merger with a larger institution. In our view, it was important to find a potential merger partner that shared the values and principles of Sweetwater FCU. Recognizing the advantages and many benefits that would flow to the membership, the decision was made to pursue approval of a merger with WyHy Federal Credit Union in Cheyenne.

This process required that a merger request be submitted to the National Credit Union Administration (NCUA) for review and permission for us to proceed. The approval to pursue the merger was granted on August 26, 2022. A membership meeting to approve the merger with WyHy Federal Credit Union is currently scheduled for November 16, 2022, with a completed merger targeted by December 31, 2022.

As always, our focus is on what is best for the member. Previous communications with the membership as a whole have clearly indicated that there is a desire for more full-service branches, less fees, better rates and a wider range of products and services. We are confident that the proposed merger with WyHy FCU will accomplish all of that and much more.

A FAQ that contains valuable information that will assist with questions that you may have has been posted on our website.

The Board, Management and Staff are pleased to present you, our valued member, an opportunity to vote on this very important recommendation. Recognizing the importance of this vote you will have an opportunity to vote early electronically, by mail ballot or attend the membership meeting and vote in person. This ballot presents an exciting opportunity for all of us to vote on a new direction for Sweetwater Federal Credit Union going forward.

We recommend a YES vote on the ballot. It is truly a win-win for all of us.

Enclosed is the Notice of Special Meeting and Ballot for Merger Proposal for your consideration. Also enclosed is a combined balance sheet and income statement.

Sincerely,

Chairman Michael Lowell	CEO/President Candise Taylor