State Central Credit Union is proposing a merger with a local credit union to better address economic challenges. It has the expertise and resources to partner with another credit union, including over 60 years of experience providing financial services, a full-service mortgage department, improved digital technologies, a strong focus on compliance, and efforts to build long-term member relationships. A merger would allow both credit unions to offer more products and services, expand technology use, meet regulatory requirements, increase membership and profits, and ensure future success. State Central believes it is well-suited for a partnership due to its leadership, resources, and commitment to providing a superior member experience.

1. Profile_Final.indd 1 4/24/2009 10:47:33 AM

2. 33
Executive Summary
Because of recent economic downturns and government stabilization requirements, credit unions will have
to make some difficult decisions that will affect the way they currently do business, and as a result, drastically
change the industry landscape.
State Central Credit Union is not immune to this reality, but is in a position to offer its expertise and resources
to a metro Milwaukee credit union interested in combining forces to meet the challenges posed by the current
economic and regulatory environment. The credit union’s expertise and resources have been acquired through
the following developments:
 For over 60 years, State Central Credit Union has provided high-quality products and services that mem-
bers find affordable, easy to use and that meet their personal financial goals. In recent years, State Central
has done a great deal to improve access to member accounts while protecting them from the rising tide of
fraud and identity theft.
 State Central Credit Union offers a full-service mortgage department that provides affordable and practi-
cal mortgages to members, regardless if they are buying, building or refinancing a home.
 Computer and other digital technologies have been implemented to improve the speed and efficiency of
credit union operations, allowing State Central to remain competitive with larger financial institutions
and to react quickly to changes in the business environment.
 State Central has made compliance a high priority, diligently and continually developing procedures for all
departments to ensure adherence to government stipulations.
 Through product promotion, education efforts and a commitment to service, State Central is dedicated
to building long-lasting member relationships that will help the credit union thrive well into the future.
The Board of Directors and executive management team believe that partnering with an area credit union will
allow both credit unions to continually offer high-quality products and services, expand the use of technology,
and fulfill compliance and regulatory requirements. Consequently, both credit unions will be able to increase
membership, profitability and guarantee their future success.
The following corporate profile outlines in detail State Central’s
product offerings, operations, long-term goals and steps that will
be taken to guarantee a successful merger. Upon conclusion, it
will be clear why State Central Credit Union is a strong candi-
date for a future partnership.
Profile_Final.indd 3 4/24/2009 10:47:41 AM

3. 15
Marketing
Advertising/Promotions
State Central Credit Union has used and continues to use a variety of advertising media to promote its products
and services directly to its membership and to the greater metro Milwaukee market. These include:
 Statements and statement inserts (paper and electronic)
 Lobby displays, flyers and brochures
 Web site and on-line surveys
 Direct e-mail campaigns
 Special event programming
 Newspaper and other print media
 Direct mail
 Member referral program
 Radio
 Trade shows and employer on-site visits
 Internet advertising
Sales and Marketing Strategies
 On consumer loans, borrowers can receive a rate 1/2 percent lower than the base rate if they open a State
Central checking account and keep the account active. This pricing effects all consumer loans except share
secured.
 Member Services offers a $25.00 incentive, directly deposited into a member’s account, for each new
member referral.
 Front-line staff is thoroughly trained on State Central’s products and effective cross-selling
techniques. Monetary incentives are available to staff for talking about and selling member-
ships, checking accounts and electronic services.
 Mortgage Lending offers monetary incentives to State Central employees for mortgage referrals.
Employees can receive $25.00 for every application that is submitted; $50.00 for every referred
borrower who closes a State Central mortgage.
 Radio has been used heavily to promote the Fresh Start Checking
account to a younger age demographic.
 Because of advertising through Informa and retaining
servicing on mortgages sold to Fannie Mae, State
Central has been able to cut mortgage rates by an
1/8 percent. Informa has provided a means for
State Central to advertise affordably yet
remain competitive with larger financial
institutions.
 State Central’s web site and mass e-mail
campaigns are used to educate members
and remind them of available products
and services.
*IMPORTANTNOTES: APRreferstoAnnualPercentageRate. ExampleofAPRis
basedonaminim
um$200,000loanwith20%
downwithP&Ipaymentof$1,215.22
ortizedover360months. Allstateandfederalregulationsandlendingpoliciesof
entralapplytothisoffer. RATESCANCHANGEATANYTIME. StateCentralis
ortunitylender.
apr*
Milwaukee
W
aukesha
W
estBend
Open
to
the
public
Open
to
the
public
Open
to
the
public
Open
to
the
public
Open
to
the
public
6.179
%
Buy or Refi!
30
year fixed, 0
points
or apply online at
www.statecentral.com
M
ortgage Lending:
(414) 778-1000
6.125
%
5.75%APR*
Don't put off your home improvement projects
or big ticket purchases! With this low rate on a
State Central Credit Union closed end home
State Central Credit Union closed end home
State Central Credit Union closed end home
State Central Credit Union closed end home
State Central Credit Union closed end home
equity loan
equity loan
equity loan
equity loan
equity loan, those needs and wants
just became more affordable!
No closing costs for
No closing costs for
No closing costs for
No closing costs for
No closing costs for
loan amounts
loan amounts
loan amounts
loan amounts
loan amounts
$50,000 or less!
$50,000 or less!
$50,000 or less!
$50,000 or less!
$50,000 or less!
Maximum term
is 5 years.
Other rates and terms
are available.
Consumer Lending
Consumer Lending
Consumer Lending
Consumer Lending
Consumer Lending
(414) 778-1000
(414) 778-1000
(414) 778-1000
(414) 778-1000
(414) 778-1000
Apply on-line at
Apply on-line at
Apply on-line at
Apply on-line at
Apply on-line at
central.com
central.com
ecentral.com
central.com
central.com
You won't find a home equity
You won't find a home equity
You won't find a home equity
You won't find a home equity
You won't find a home equity
loan rate better than this.
loan rate better than this.
loan rate better than this.
loan rate better than this.
loan rate better than this.
Profile_Final.indd 15 4/24/2009 10:49:30 AM

4. 22
Financial Statements
Balance Sheet
as of December 31, 2008
Assets
Cash $ 1,861,006
Investments
Corporate Central Credit Union 11,873,893
Available for Sale Securities, Net of
Amortization and Allowance 0
NCUA Share Insurance
Capitalization Deposit 532,795
Other Investments 10,000
Total Investments 12,416,688
Loans to Members
First Mortgage Loans 31,300,067
Auto Loans 2,510,459
All Other Loans 14,301,173
Total Loans 48,111,699
Allowance for Loan Losses (186,124)
Land & Buildings (net of depreciation) 996,291
Other Fixed Assets 477,142
Other Assets 1,601,177
Total Assets $65,277,879
Liabilities and Reserves
Member Savings
Checking $13,477,184
Certificates 10,192,550
IRAs 2,428,318
All Other Shares/Member Deposits 25,363,979
Total Member Savings 51,462,031
Accounts Payable/Other Liabilities 815,153
Reserves
Regular 4,359,612
Contingency 8,641,083
Total Reserves 13,000,695
Unrealized Gain/(Loss) 0
Total Liabilities & Reserves $65,277,879
Net worth: $13,000,000
Net worth to total assets ratio: 19.9o
(as reported by the NCUA)
Figures compiled December 2008
Profile_Final.indd 22 4/24/2009 10:49:38 AM

5. 25
Reasons for Merger and Merger Implementation
State Central Credit Union...a Solid Choice
Why should Veteran’s Administration Credit Union consider State Central Credit Union as a potential merger
partner?
 State Central’s Board of Directors and executive management team can bring a wealth of experience to
Veteran’s Adminstration Credit Union and provide sound leadership to meet the challenges of the changing
economic climate.
 State Central has committed vast resources towards improving its technological capabilities and can extend
these capabilities to Veteran’s Administration Credit Union. These technological improvements can allow
Veteran’s Administration Credit Union a wider range of products and services to offer to members, accessible
anywhere at any time.
 State Central can offer Veteran’s Administration Credit Union members several options in mortgage financing
through its experienced, full-service Mortgage Department, eliminating the need for Veteran’s Administration
Credit Union members to look elsewhere for their mortgages. As a result, current relationships Veteran’s Ad-
ministration Credit Union has with its members are solidified.
 State Central has made a concerted effort to make sure all operations are compliant with state and federal regu-
lations and works diligently to stay on top of complance and regulation changes within the industry. State Cen-
tral’s expertise can help Veteran’s Administration Credit Union navigate through compliance issues and imple-
ment sound procedures.
 Along with technological improvements, State Central has greatly increased security of member accounts to
help prevent identity theft and other forms of fraud. State Central can help Veteran’s Administration Credit
Union improve security efforts, thereby protecting its membership.
 Combining the resources of Veteran’s Administration Credit Union and State Central will provide both credit
unions with greater opportunities to increase marketing efforts, develop quality products and services, increase
membership, increase profitablility and meet the demands of the current economic climate as well as future
challenges.
 Like Veteran’s Administration Credit Union, State Central is committed to providing superior member service
and helping members achieve their personal financial goals. Veteran’s Administration Credit Union members
can expect the same quality of service from State Central as they have always received.
Merger Commitment
State Central Credit Union is committed to the success of a merger, tak-
ing whatever steps necessary to meet the goals of both credit unions. The
products and services of Veteran’s Administration and State Central
Credit Unions will be used in such a way to provide the widest range of
financial services to all members. Every feasible attempt will be made
to retain as many Veteran’s Administration Credit Union staff mem-
bers as possible and to utilize their talents fully in developing this
new partnership. State Central Credit Union is also committed
to open communication about the merger with its members and
the members of Veteran’s Administration Credit Union through
direct mail, direct e-mail and information on credit union
websites. With careful attention and commitment, this merger
will strengthen Veteran’s Administration Credit Union and State
Central Credit Union and create a sound financial institution
ready to meet the challenges of the future.
Profile_Final.indd 25 4/24/2009 10:49:41 AM

6. CORPORATE PROFILE BACK COVER
10015 West Greenfield Avenue
Milwaukee, Wisconsin 53214
(414) 778-1000
Fax: (414) 479-2222
www.statecentral.com
April 24, 2009 10:46 AM ...Final
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