1. Why is the Board of Directors recommending we make this change?
   The Board has determined it is important to make this change for the following reasons:
   • We have been approved to become a community based credit union. Therefore anyone who lives, works, worships or attends school in Pima County will now be eligible to join. Previously someone had to work for the Post Office or live in one of the zip codes surrounding our branches in order to be eligible for membership. We place a high value on all of our Postal employee members and will continue to strengthen this relationship. This change will allow anyone in Pima County to join Pyramid.
   • Currently Credit Unions are exempt from Federal taxes but not from State taxes or some of our other income. We have to pay taxes on sources of income such as ATM fees, financial planning income, life and disability insurance income on loans, etc. As a Federal Credit Union, we will be exempt from those taxes as well as from some state sales tax that we have to pay when we buy equipment for the credit union.
   • During today’s tough economic times, there has been some confusion between the terms State or Federal Chartered Credit Union versus Federally insured. Pyramid Federal Credit Union, like all Credit Unions in Arizona are Federally insured and we will remain Federally insured up to the maximum amount allowed by law.
2. What does this mean for my $250,000 share insurance?
   There is no change in the share insurance benefits. Your shares will remain insured to the maximum allowable (currently $250,000)
3. What does this mean for my accounts at Pyramid Federal Credit Union
   Nothing will change in the ability to use any of your accounts at Pyramid. Over time, we will replace our old name with our new name on your checks, credit cards, debit cards, etc. You will be able to use your current checks and credit/debit cards until we replace them which may take up to two years.
4. What will change from this process?
   The biggest change will be our name. Instead of Pyramid Federal Credit Union, we will become Pyramid Federal Credit Union. All of our signs, logos, advertisements, promotional materials and products will feature our new name.
5. Why do I have to vote on this issue?
   Pyramid Federal Credit Union is owned by its members. The Board of Directors feels the members should have a say in how their Credit Union is operated.
6. What happens if I have more questions?
   Feel free to CONTACT US! Please remember to never include any personal information in your e-mails to us.

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