Example SEG Application Letter

(PRINT ON COMPANY LETTERHEAD)

(Date)

Premier Members Federal Credit Union
Attn: Linda Hicks, Business Development Specialist
5495 Arapahoe Ave.
Boulder, CO 80303

Dear Ms. Hicks:

I would like to request membership in Premier Members FCU for the employees of (company name). (Company name) is a company specializing in (type of business). Our business address is (street), (city), CO (zip code). This is approximately (number) miles from your branch located at (branch address). We currently have (number) employees. At this time, (company name) is not being served by any other credit union. We are requesting membership privileges in PMFCU because of its wide range of products and services, convenient branch locations, free internet account access, internet bill paying service, participation in the nationwide shared branch network, and its numerous free, convenient ATM locations.

Premier Members FCU meets our employees' varying financial needs with its diversified product structure. Our employees consist of savers and borrowers who would like to take advantage of the full line of products and services offered by PMFCU. The formation of a separate credit union is not practical or consistent with safety and soundness standards for the following reasons:

• Our company is too small to offer the services we desire.
• Our company is widely dispersed.
• We lack individuals with the requisite skills (leadership, accounting, finance, etc.) or availability to manage and operate a credit union.
• Our employer is unwilling or unable to contribute start-up capital, provide office space or otherwise subsidize the initial expenses of a new credit union until it can be self-supporting.
• The individuals in our company need, desire, and are accustomed to a variety of financial services and would not be willing to support a new credit union that could only provide limited services.

If you should need additional information, please contact (name of contact person), who is coordinating the credit union affiliation, at (telephone number). Thank you for your consideration.

Sincerely,

(Name of Official Employee)