Transition

At the end of September, your membership in Kaiperm Federal Credit Union will be transferred to membership in Alliant Credit Union, one of the largest, most successful credit unions in the nation. You’ll have a new savings dividend rate – one of the highest in the industry. Plus, you’ll have a new financial partner that’s committed to helping you achieve and maintain your financial well being.

We would like to recognize the founders, Board of Directors, employees and members who have been a part of Kaiperm Federal Credit Union. We are grateful for your loyal business, service and dedication over the past 50 years. As we look forward to the transition to Alliant, we are certain that, just as the Board found Alliant to be the perfect fit for Kaiperm, you too will find Alliant to be the perfect fit for you and your finances.

We encourage you to take a few minutes to review the information provided on this web site to get a fuller sense of how you can put the Alliant Advantage to work for you. Once again, welcome to Alliant.

Dear Kaiperm Federal Credit Union Member,

Like many other financial institutions, Kaiperm Federal Credit Union has been impacted by the downturn in the real estate market. Over recent months, Kaiperm has explored many options to enable loyal members, such as you, to continue receiving the best in financial services for the years to come.

On September 26, 2008, the National Credit Union Administration selected Alliant Credit Union as best suited to serve Kaiperm Federal Credit Union members. As such, effective September 26, 2008, Kaiperm Federal Credit Union was placed into liquidation by the NCUA, and Alliant purchased its assets and assumed all its share accounts.

You are now official members of Alliant Credit Union and able to access all the rights and privileges of Alliant membership.

Alliant Credit Union and Kaiperm Federal Credit Union have a common foundation. Both credit unions were founded over 50 years ago to serve employees. Today, we are now proud to be able to welcome you into our family of over 200,000 members nationwide, confident that you will enjoy Alliant’s numerous benefits.

We are working diligently to minimize any inconvenience during the process, and will continue to keep you informed all along the way.

Please watch your mail in early October for a final Kaiperm Federal Credit Union account statement of activity from September 1-26, 2008, and another account statement from Alliant Credit Union mailed in early October for the period September 27-30, 2008. For your assurance, we suggest you verify the statement balances from both institutions.

You can have confidence in Alliant’s size and strength. Alliant has $ 5.7 billion in assets, and $625 million in capital. As part of the Credit Union “Shared Branching” network, you have access to your accounts at select credit union branches nationwide, and we are a long-standing member of several ATM networks with over 75,000 surcharge-free ATMs throughout the U.S. In addition, you can access your account anytime at www.alliantcreditunion.org or by phone through our 24-hour toll-free member service center at 800-328-1935 (24/7).

Just as at Kaiperm Federal Credit Union, all accounts held at Alliant Credit Union are insured by the National Credit Union Share Insurance Fund (NCUSIF) up to $100,000, for all non-IRA deposits, with IRA accounts insured up to $250,000.

Please check your final Kaiperm and first Alliant statements carefully. If you see any errors or discrepancies or have questions, please report them as soon as possible to Alliant Credit Union by calling 800-328-1935 (24/7). You will have until March 26, 2010, to make claims to the NCUA. Please address all claims to:

National Credit Union Administration
Asset Management and Assistance Center
4807 Spicewood Springs Road, Suite 5100
Austin, TX 78759
512-231-7900

Failure to make such a claim by March 26, 2010, will prevent a future claim.

If you have any questions about the conversion process, please contact Alliant Credit Union by calling 800-328-1935 (24/7). Thank you for your loyal dedication to Kaiperm Federal Credit Union.

Welcome to Alliant Credit Union!

Sincerely,
David W. Mooney
President, CEO - Alliant Credit Union

Frequently Asked Questions

How did the Alliant-Kaiperm partnership come about?
After extensive research and review to determine how best to improve and enhance the financial lives of Kaiperm members, the Kaiperm Board of Directors decided to pursue a partnership with the Alliant Credit Union.

What is the history and financial soundness of Alliant Credit Union?
Alliant, established in 1935, ranks as the eighth largest credit union in the nation serving more than 212,000 members worldwide with over $5 billion in assets. Our fiscally conservative policy and prudent management has enabled Alliant to disburse over $172 million in 2007 to members in the form of dividends, and capital reserves now exceeding $630 million with a 14.5% capital/net asset ratio - well above the 7% regulatory definition of "well capitalized" and much higher than the average bank.

How do I access my accounts?
Please read the Account Access FAQs.

What new benefits, products and services will I have access to?
You’ll have access to the Alliant Advantage – higher than bank savings rates, lower than bank loan rates, 24/7 live member service and over 75,000 surcharge-free ATM’s. Consult your “Complete Guide to Your Alliant Credit Union Accounts” booklet, call us or stop by a local branch location.

Will any Kaiperm benefits, products or services no longer be available through Alliant?
As part of the transition, some of the accounts you currently have at Kaiperm may be changing. Additionally, a few services will no longer be available:

• Bart Transportation Ticket Purchase
• Travelers Cheques
• Cashiers Checks
• Cash at Alliant Service Centers

I have a loan with Kaiperm. Will I receive a new payment coupon book and where should I send my payments?
Beginning in October 2008, payment slips for loan products will be included with each monthly Alliant statement. There is a new address to send your loan payments to:
Alliant Credit Union
P.O. Box 60050
City of Industry, CA 91716-0050

VISA® credit card payments should be mailed to:
VISA
P.O. Box 60051
City of Industry, CA 91716

Note: FedEx and other similar services do not deliver to
P.O. Boxes. If you are sending deposits/payments other than by U.S. mail, you must address them to Alliant Credit Union, 11545 West Touhy Ave., Chicago, IL 60666, and 800-328-1935.

Will the interest rates on my loans change?
The interest rate and fees on your loan(s) including credit cards will remain the same. However, the credit card payment due date will change from the 15th to 20th of the month. The Home Equity Line of Credit payment due date will change from the 25th to the 20th of the month. The payment due date for Vehicle and Home Equity loans will not change.

Will I automatically receive a new VISA® credit card or can I continue to use my Kaiperm VISA® credit card?
You can continue to use your Kaiperm VISA® credit card(s). When your Kaiperm VISA® card expires, you will receive a new Alliant VISA® credit card as a replacement.

Will my loan still be covered by Accidental Death & Dismemberment, Credit Life & Disability, Guaranteed Auto Protection (GAP), Mechanical Breakdown Insurance (MBI) or Collateral Protection Insurance (CPI) that was purchased through Kaiperm?
Yes, you will continue to be covered by any optional insurance you purchased through Kaiperm to protect your loans and collateral.