Blue Federal Credit Union 2022 Annual Impact Report by Blue FCU

2 TABLE OF CONTENTS 03 2022 SNAPSHOT 07 AWARD WINNING 10 YOUR MONEY 04 LEADERSHIP OVERVIEW 08 OUR MISSION 11 YOUR COMMUNITY 09 YOUR LIFE 12 BLUE-SPONSORED EVENTS 15 BLUE FOUNDATION 17 EDUCATIONAL SCHOLARSHIP AWARDS 20 FINANCIAL CONDITION 22 FINANCIAL STATEMENTS 19 LOCATIONS 23 BLUE’S LEADERSHIP

117 , 577 Total members at the end of 2022

$8 . 19M Paid in total dividends

$1 . 53B In total Member Shares

$721 . 8M In funded loans helping members

$3 . 07M In prevented fraud

1 , 307 Total hours volunteered by Blue employees

3 2022 SNAPSHOT

LEADERSHIP OVERVIEW

Since our original charter in 1951, Blue Federal Credit Union has been a lifelong champion for our members in Wyoming, Colorado, and worldwide. We continue to focus on our mission of discovering pathways to realize your possibilities by providing excellent service and delivering innovative products and resources that meet your evolving needs. Blue is a different kind of financial institution. We are the trusted partner that taps into your full potential, so you can become the hero your story deserves.

We proudly present this 2022 annual report, wherein we take a glimpse at some of the year’s many accomplishments. Each page is a tribute to the reasons we’re thankful for what the past year has brought and what’s still to come for Blue’s future.

In 2022, our financial performance was strong, and this stability enabled us to stand out among our peers. Knowing that our over 115,000 members and counting consider us a trusted partner and rely on us for their success keeps us focused on our mission of improving our members’ lives, money, and communities. As we reflect, we remain committed to our members, employees, and community. We will continue to innovate and provide our members with the best possible financial solutions while maintaining our values of boundless optimism, unwavering confidence, being uniquely us, and accomplishing this all with our over-the-top commitment.

This past year has had its challenges. Inflation and rising interest rates have affected us all. As we all forge into the future, we know many members still feel uncertainty. We are well prepared to face whatever the economy may bring. With a solid asset base and net worth to support us, we will continue to keep your needs – and our communities’ needs – at the forefront. We’re strong, we’re Blue and your dreams remain our commitment.

Last year, we invested in our infrastructure, including adding and upgrading branches, and working towards expanding our online capabilities, to ensure that we can meet the evolving needs of our members. As a member-owned credit union, we’re here to transform Wyoming, Colorado, and the world – one realized possibility at a time.

On behalf of the Board of Directors and all our employees, thank you for your continued trust and support of Blue Federal Credit Union’s mission to be your financial champion. We look forward to another successful year.

Stephanie Teubner President & Chief Executive Officer

Deanne Vogel Chairman of the Board of Directors

This is Your Story and Our Mission

Our purpose is to empower our members to achieve financial success and reach their dreams. Blue remains committed to providing innovative solutions, exceptional service, and a personalized experience that puts our members first. We are honored to serve alongside and support the communities we call home.

Our Purpose

Members deserve a community built around authentic connections

Our Mission

To discover pathways to realize your possibilities

Boundless Optimism

We bring positivity, humor, and energy. We know there is always more.

Our Values

Uniquely Us

Our passion and personality energize an uncommon commitment to each other and our communities.

Unwavering Confidence

Our competence, consistency, and follow through build a foundation of trust.

Over The Top

We go further to make a difference, win for members, and grow Blue.

• 2021 Annual Report

• 70th Anniversary (One-Time Event)

• Blue Foundation Golf Tournament (Multifaceted)

• Blue It (Commercial Video)

• Business Development Effort

AWARD WINNING

• Credit Union

• Mortgage Lending

Wyoming

Best of Grand – Grand County, CO Best Bank/Credit Union

3rd Place for Best Credit Union as voted by readers

Readers’

• Best Credit Union in Cheyenne (7th Consecutive Year)

• Best Mortgage Lending Company

Great Place to Work Certified®

2022 Credit Union National Association (CUNA) Diamond Awards Best of NOCO Awards BEST of the BEST –Cheyenne, WY Tribune Eagle’s Choice Awards 2022 CUNA WOW! Award Altitude Leadership Training Program

OUR MISSION

Blue Invests In You. Your Life, Your Money, and Your Community.

We empower members to tap into the full potential of their life, money, and community. As we “Blue It Forward,” we invest in individuals, organizations, and communities who are taking their first steps toward a better future. As an organization, we genuinely believe in doing good and achieving more together.

Each conversation and interaction with our members are an opportunity to brighten their day. We are committed to going above and beyond to help our members live extraordinary lives. When you come to us, you share your hopes and dreams; we see them as our own. That’s why we take the time to understand your plans, learn about your life, and create a personalized path to help you achieve your financial goals.

We are not your typical credit union—Blue sees things differently. Our members are more than their credit score, job title, or zip code. The moment you walk through our doors, we recognize your potential. Share your bucket list with us, and witness how your life transforms into the reality you’ve always dreamed of. This is our way of shaping Your Story.

YOUR LIFE

We’re with you, wherever you go. Let’s be honest. Money doesn’t buy happiness. Time spent doing the things you love with the people you care about does. We are passionate about investing in something bigger than ourselves and improving your life through genuine human connection. Our job is to empower you to go for it, no matter what “it” is. Because when you live your life to the fullest, others will be inspired to do the same.

This is about Your Life.

Very happy member since 1997, even recommended this credit union to my children. Two are members also!

- Catherine

$3 . 07M In prevented fraud

$8 . 19M Paid in total dividends

7 , 738 Skip Payments on Loans

Finish Line Mortgage 2 nd Mortgage HELOCs 1 st Mortgage Purchase 1 st Mortgage Refinance $24 . 8M $6 . 6M $3 . 8M $20 . 9M $27 . 3M 947 Total mortgage loans funded $83 . 4M Total funded in mortgage loans

YOUR MONEY

Blue aims to provide sought-after products and services designed for you. Financial security is a key part of living a healthy and fulfilled life. As a partner in each individual journey for financial freedom, Blue strives to offer tailored products and services for our members.

At Blue, we provide you with the perfect blend of control, customization, and convenience. We collaborate with you during the best of times and stand by your side during the most challenging moments.

Your Money matters.

I’ve been with the same credit union since my first job, so 24 years and counting. There’s a definite reason for that. The tellers are always polite, quick and thorough. And the other employees I’ve had business with are as well.

- Natalee

What matters to you matters to us. Blue is unwavering in our commitment to making a notable and measurable impact on our communities, deepening relationships with organizations, leaders, and other businesses that positively impact and grow communities in and beyond Blue’s footprint. When you bank with Blue, you invest in yourself and fuel the dreams of others, too.

People helping people is one of the guiding principles of the credit union philosophy, which is why giving back to the communities we serve is so important to our culture at Blue. Our community’s success is our success. We’re incredibly proud of how Blue and our employees have generously given their time to volunteer, serve, improve, and advocate for their communities.

Blue Federal Credit Union has been a very generous community partner to us here at Community Action of Laramie County. We are so grateful for the in-kind donations of time and resources that they have given, like the room for our monthly board meeting, the sponsorship for the Farmer’s Market, and helping with our Learning over Lunch series... We wouldn’t be able to hold the Learning Over

Lunch series without the support of Blue and we cherish the partnership we have.

As a community connector, Blue’s heart and truly cooperative spirit connect and inspire the communities we serve.

Your Community is our focus.

Blue helps future generations build the skills to meet their financial goals!

1 , 307 Total Blue employee volunteer hours

53 Funded commercial loans

$29 . 3M In commercial loans funded in our communities

134 Total events at Blue World Headquarters

YOUR COMMUNITY

BLUE-SPONSORED EVENTS

The Ascendant presented by Blue is a 72-hole tournament featuring 156 players from around the world. Debuting in 2019, the Ascendant presented by Blue has quickly become one of the premier stops on the Korn Ferry Tour and is played over the course of four days. The third and final rounds are streamed via PGA TOUR LIVE and are the 19th of 26 events on the 2022 Korn Ferry Tour schedule.

6 . 80M Views through PGA Broadcast

6 . 24M Social media impressions

$1 . 07M Total media value

$50K+ Donated to local charities

85 Kids attended the Junior Clinic

Thank you, Blue Federal Credit Union, for always thinking of members and community first and helping us bring world class golf to the Front Range while giving back at the same time.

- Drew Blass, Tournament Director

Our partnership with Blue allows Cheyenne Frontier Days to sustain our mission of producing and promoting the premier Western celebration in the world. This promotes our Western heritage, positive economic impact to our local, state and regional communities, and positive social impact and support to our community. We are grateful for this support.

Cheyenne Frontier Days is an annual PRCA/ PBR national-sanctioned rodeo and western celebration that takes place in Cheyenne, Wyoming. It is known as the “Daddy of ‘em All” and is one of the largest and most prestigious rodeos in the world. The Cheyenne Frontier Days Rodeo is an absolute must-see outdoor rodeo event where you will experience bull riding, bucking bronc riding, steer wrestling, barrel racing, team roping, and much more.

239 . 5K Social Media Followers 123 . 6K Total in night show attendance

108 . 7K Total in rodeo attendance

- Tom Hirsig, CEO, Cheyenne Frontier Days

INVESTS IN YOUR STORY!

157 New Hires integrated into Blue

I love the staff here. Personable, extremely knowledgeable, want to see you financially secure and will go out of their way to help guide you there!

- Jessica

6 , 172 Annual hours spent on training and staff development

25 , 125 New members added in 2022

179 , 151 Calls and Chats answered by Blue staff

BLUE

$213 , 000 Total in grants awarded

$199 , 475 Total awarded in sponsorships

121 Community Sponsorships

EDUCATIONAL SCHOLARSHIPS AWARDED

In 2022, we gave $12,500 in higher education scholarships to seven outstanding credit union members. With that money, the scholarship winners could breathe easier and focus on their studies and their future. In memory of Myrtle Knight, six scholarships of $2,000 were awarded to current high school seniors who are Blue Federal Credit Union members through the Blue Foundation Scholarship. Additionally, one student attending Laramie County Community College in Wyoming received the Shirley Howard Blue Foundation Scholarship of $500.

Myrtle Knight Scholarships

Colorado

Adriana Bassett

$12 , 500

Given in higher education scholarships

Liberty Common High School | Fort Collins, CO Brigham Young University | Provo, UT

Ben Koenig Fort Collins High School | Fort Collins, CO University of Colorado | Boulder, CO 04

Wyoming

Sophia Steven Peak to Peak Charter School | Lafayette, CO California Institute of Technology | Pasadena, CA 05

Michael Bargerter

Cheyenne East High School | Cheyenne, WY University of Utah | Salt Lake City, UT

Katie Acord Campbell County High School | Gillette, WY University of Wyoming | Laramie, WY 06

Jonnina Edmunds Cheyenne East High School | Cheyenne, WY Colorado State University | Fort Collins, CO

Shirley Howard Blue Foundation Scholarship

Bailey Johnson Central High School | Cheyenne, WY

Laramie County Community College | Cheyenne, WY 07

Yale Avenue Branch Grand Re-Opening

In February of 2022, our remodel and grand re-opening of the Yale Avenue Branch demonstrated to the residents living in the Denver Metro area that we are an integral part of their community, and we stand ready to serve all their banking needs.

BLUE IS CONVENIENTLY LOCATED THROUGHOUT COLORADO, WYOMING

Arapahoe Avenue 2800 Arapahoe Ave Boulder, CO 80303 5th Street at Ridley’s 7670 5th Street Wellington, CO 80549 119th Avenue 6850 W 119th Ave Broomfield, CO 80020 Agate Avenue 129 E Agate Ave Granby, CO 80446 Boardwalk Drive 181 W Boardwalk Dr Fort Collins, CO 80525 Drake Road 2261 E Drake Rd Ste 110 Fort Collins, CO 80525 Highway 287 2410 South, US-287 Lafayette, CO 80026 Huron Street 13625 Huron St Broomfield, CO 80023 Old Town 136 W Mountain Ave Fort Collins, CO 80524 Vista Ridge 2080 Village Vista Dr Erie, CO 80516 Superior Marketplace 400 Center Drive Superior, CO 80027 Yale Avenue 6460 E Yale Ave Denver, CO 80222 Colorado Yellowstone Road 6523 Yellowstone Rd Cheyenne, WY 82009 UW Plaza 2405 Grand Ave Ste F Laramie, WY 82070 South Greeley Highway 700 S Greeley Highway Cheyenne, WY 82007 F. E. Warren Air Force Base Branch 5105 Randall Ave Cheyenne, WY 82005 Grand Ave. at Ridley’s 3112 Grand Avenue Laramie, WY 82070 Dell Range Boulevard 3810 Dell Range Blvd Cheyenne, WY 82009 7th Avenue 114 E 7th Ave Cheyenne, WY 82001 Blue Diamond Center Branch 2300 Chestnut Dr Ste #100 Cheyenne, WY 82001 Blue World Headquarters 2401 E Pershing Blvd Cheyenne, WY 82001 Wyoming 19

AND ONLINE!

FINANCIAL CONDITION

$1 . 53B In total membership shares

million

$721 . 8M In funded loans

20 Checking $335.8

Money

$167.0

Savings

$371.5

$104.8

$66.7

$70.4

Auto

$368.2

Other

$111.7

10.9% 24.3% 42.8% 22.0%

million

Market

$654.4 million Term Share Certificates

million Unsecured Loans

million RV/Boat Loans

million Mortgage/HELOC Loans

million

Loans

million

Secured Loans

million

51.0% 9.2% 15.5% 14.5% 9.7%

Statement of Income and Financial Condition

For more than 70 years, we have been a community-driven financial institution focused on fueling our members’ aspirations. Blue is invested in you at every step of your financial journey – your goals, your dreams, and your big-picture future. As a true cooperative, we invest in our members and the communities we serve because we know individual success benefits each and every member.

Your money has been and continues to be very safe and secure at Blue Federal Credit Union. We meet, or exceed, the financial standards regulators require for a credit union to be considered well-capitalized. With a solid asset base of over $1.84 billion, insured by the National Credit Union Share Insurance Fund and net worth to support us, we will continue to keep your needs — and our communities’ needs — at the forefront. Your dreams remain our commitment, and we are well-prepared to face anything in the future.

Even in a volatile economy, our total asset size grew from 2021 to 2022, with an increase of 13.56% from $1.62 billion to $1.84 billion. Profitability, as measured by net income, dropped slightly to $10.7 million; however, total overall income rose 13.2%. In 2022, we not only increased our membership by 7.10% to 117,577 but also our loan income climbed by 15.16%. Blue paid out a little over $8.19 million to shareholders in 2022, while our share balances increased from $1.43 billion to $1.53 billion, a 7.25% increase.

Our leadership team’s 100+ years of combined experience and the strong dedication, commitment, and expertise of all our employee teams ensure that Blue remains a very stable financial institution. We will remain a vigilant partner, ensuring Blue’s financial soundness as your credit union that continues to invest in you, your family, and your communities.

Blue’s financial strength and stability, built over the last 70 years, is a direct reflection of our ability to partner with our members and communities in helping them realize the life of their dreams.

- Neal Weber, Chief Financial Officer

FINANCIAL STATEMENTS

Your Supervisory Committee Report

The Supervisory Committee is comprised of five elected volunteers. Its primary responsibility is to safeguard member assets by overseeing the financial and internal control systems and policies related to credit union operations.

In 2022, we achieved our objective in two ways. First, we employed the services of an outside auditing firm. In addition, we conducted and reviewed various audits and researched questions from the Board of Directors and credit union members with the assistance of the credit union’s Internal Audit Department. At this time, based on the financial statement, internal audits, and regulatory examinations, the Supervisory Committee believes the Credit Union’s financial condition and its internal controls are sound.

Correspondence can be addressed to:

Blue Federal Credit Union Supervisory Committee

2401 E. Pershing Blvd.

Cheyenne, WY 82001

Milton B. Uribe Chairman of the Supervisory Committee

Financial

ASSETS AS OF 12/31/2022 AS OF 12/31/2021 Cash & Equivalents $61,240,272 $44,762,354 Investments $118,743,604 $157,815,229 Loans $1,495,656,084 $1,267,105,997 PP&E $76,486,166 $68,172,392 NCUSIF Deposits $13,146,322 $12,602,821 Other Assets $78,603,707 $73,206,040 Total Assets $1,843,876,155 $1,623,664,833 LIABILITIES Share & Savings Accounts $1,528,675,851 $1,425,362,608 Other Liabilities $173,994,784 $58,618,932 Total Liabilities $1,702,670,635 $1,483,981,540 Members Equity $141,205,520 $139,683,293 Total Liabilities & Equity $1,843,876,155 $1,623,664,833 Blue Federal Credit Union Statement of Income INCOME 2022 YTD 2021 YTD Loan Income $64,767,854 $56,239,554 Investments Income $2,505,789 $1,589,709 Operating Income $18,609,304 $18,037,883 Total Income $85,882,947 $75,867,146 OPERATING EXPENSE Employee Comp & Benefits $26,730,095 $22,761,436 Other Operating Expenses $28,905,353 $26,378,070 Total Operating Expense $55,635,448 $49,139,506 NON-OPERATING EXPENSE Provision Expense $8,966,023 $3,684,127 Cost of Funds $11,420,432 $9,677,926 Gain/Loss on Asset ($842,184) $146,729 Total Non-Operating Expense $19,544,271 $13,508,782 NET INCOME $10,703,228 $13,218,858

Blue Federal Credit Union Statement of

Condition

BLUE’S LEADERSHIP

Executive Leadership Team

Board of Directors

Stephanie Teubner Chief Executive Officer and President Neal Weber Chief Financial Officer Tom Reiman Board Member Kevin Yao Board Member Ashley Miller Board Member Jason Caughey Board Member Kim Alexander Chief Strategy and Growth Officer Deanne Vogel Chairman Jason Buchanan Chief Credit and Risk Officer Melissa Hanes Chief People Officer Rod Austin Senior Vice President of Marketing Robert Luna Board Member Kent Richard Chief Information Officer Jeffie Wiggins-McMullen Secretary Eric Harris Treasurer Matt Vignale Chief Retail and Member Experience Officer Sean Dougherty Board Member Teresa Kunkel Board Member Mark Stege Vice Chairman

INSURED BY NCUA | AN EQUAL HOUSING LENDER

Blue Federal Credit Union 2022 Annual Impact Report

LEADERSHIP OVERVIEW

Boundless Optimism

Our Values

Uniquely Us

Unwavering Confidence

Over The Top

AWARD WINNING

OUR MISSION

Blue Invests In You. Your Life, Your Money, and Your Community.

YOUR LIFE

YOUR MONEY

BLUE-SPONSORED EVENTS

SPONSORED BY BLUE

EDUCATIONAL SCHOLARSHIPS AWARDED

Myrtle Knight Scholarships

Colorado

Wyoming

Shirley Howard Blue Foundation Scholarship

Yale Avenue Branch Grand Re-Opening

BLUE IS CONVENIENTLY LOCATED THROUGHOUT COLORADO, WYOMING

FINANCIAL CONDITION

Statement of Income and Financial Condition

FINANCIAL STATEMENTS

Your Supervisory Committee Report

BLUE’S LEADERSHIP

Executive Leadership Team

Board of Directors