Recently, you may have read that the University of
Michigan Credit Union (UMCU) is looking to purchase the
former Ann Arbor News building in downtown Ann Arbor. 
Before any announcement is made to the public, we
wanted our members to be the first to know that your
credit union has agreed to purchase this landmark
building.  The 58,000-square-foot office building will
be used as UMCU's administrative offices and will allow
the credit union to centralize our non-branch
employees.

Over the past several years, UMCU has been planning to
build administrative offices with the ultimate goal of
moving our employees out of leased property.  After a
detailed cost analysis, the current real estate market
allowed your credit union to purchase the former Ann
Arbor News building for around half of what it would
have cost to build with the same square footage.  In
addition, the downtown location provides UMCU with
great visibility and allows us to maintain our close
proximity to the University of Michigan.

UMCU's conservative financial management has enabled
your credit union to remain financially strong, even in
these difficult economic times.  We have been able to
increase the number of products and services available
to you, while keeping your deposits safe.  Over the
years, we have managed to build enough capital to allow
us to explore options that we believe will keep the
credit union strong for years to come.  To offset some
of the cost of the building, UMCU will potentially
lease part of the building to tenants.

The three-story Art Deco-style building, made of
limestone and polished granite, was build in 1936 and
is the only Ann Arbor commercial building designed by
famed architect Albert Kahn.  Located at Huron and
Division streets, the property offers more than an acre
of land and features a 58,000-square-foot office
building with parking.

Contrary to earlier reports, all existing branches
(including the branch at 333 E. William Street in
downtown Ann Arbor) will remain open to serve our
members.

As part of UMCU's conservative financial management,
your credit union continues to remain financially
strong and had net income of $1,852,573 in 2009.  Due
to this ongoing strong financial performance, UMCU
continues to receive Bauer Financial's independent
5-Star "Superior" rating (www.bauerfinancial.com).