Historic Overview

Historic Overview prepared for Whitney Anderson-Harrell presented by Ron Senci

Overview Areas of Responsibility Deposit and Loan Product Management Lending Risk Mortgage Lending – Sales, Underwriting, Processing, Closing Consumer Lending – Sales, Underwriting, Processing, Funding Indirect Lending – Sales, Underwriting, Processing, Funding Commercial Lending – Sales, Underwriting, Administration, Servicing Credit Card – Underwriting, Sales Consumer Lending Inbound Call Center Business Development (SEGs) Branches Private Client Marketing Asset Recovery

100

Total Employees

Ron Senci EVP Lending & Sales

42

Total Employees

Julie Bowering Director of Mortgage Lending

30

Total Employees

6

Total Employees

Michelle Payne VP Marketing

3

Total Employees

1

Total Employees

Total Employees

Total Employees

Total Employees

Total Employees

Deanna Hartman AVP Commercial Credit Manager

David Bedwell Director of Commercial Lending

6

5

Ashlie Dew AVP Private Client Services

Todd Shickel VP Business Development

4

3

Andee Kettlebar VP Sales

Jacob Van Velse Asset Recovery Manager

Doug Jeffs AVP Consumer Lending

Overview — 2

Loans Overview Portfolio

Growth

Dollars $1.31B Accounts 49,796

Dollars Accounts

s $81.2MM or 6.6% t 157

Core Products Mortgage Auto Commercial Credit Cards Student Loans Home Equities

2022 Outlook

Loan growth is anticipated to accelerate through the year driven by increases in Direct/Indirect Auto and Commercial Lending. Mortgage demand will decrease due to higher rates and record low housing inventory levels. Home Equity Lending demand should increase as more consumers take advantage of growing property values.

Outstanding $MM 1,117

1,168

1,224

1,260

1,227

Volume $MM

1,307

913

2020

2021

744

961

673

800 624

924

604

553

671

659

484

439 325

2012

2013

2014

2015

2016

2017

2018

1.04

0.68

2019

2020

2021

2012

2013

2014

2015

2016

2017

2018

2019

Charge-Offs % Delinquency %

0.96

0.65 0.54

0.29

2012

2013

0.10

0.08 0.12

2014

2015

0.18 0.12

0.11

2016

2017

0.27 0.18

2018

0.18 0.16

2019

0.10 0.12

0.06 0.04

2020

2021

Loans Overview — 3

Loans Overview Concentration

by State Top 3 States 66.96%

3.70%

3.36%

n 5% and Greater n 2%-4.99% n 1%-1.99% n 0.01%-0.99% n 0%

Demographics Average Age Average Tenure

Average FICO Loan Balance/Member

52 14 years

736 $13,547

% Member Penetration

47.5

Loans Overview Demographics — 4

Mortgage 2021 Originations Sales Revenue Sales Spread Days to Close

$480.5MM $6.2MM 3.2% 27

Portfolio

Growth

Dollars $721.6B Accounts 2,788

Dollars Accounts

s $84.4MM or 13.3% t 133 or 4.6%

Market Share (Indianapolis MSA) 2021 2013

2022 Outlook

Elements established an outside MLO program in 2014 and now is the leader in purchase financing in Indianapolis.

Refinances have slowed significantly with the rise in interest rates. Record low housing inventories will result in lower originations and gain on sale income for the year. Mortgage is the largest driver of income for the credit union.

494 408 189 282

290

2021 Income Statement Revenue Contribution Margin

524

566

637

607

2013

9.6

Sales Revenue $MM

722 481

350

6.2

273

207

203

233

4.3

150

68

2012

$29.1MM $18.9MM

582

Originations $MM Portfolio $MM

343

#7 Overall #2 Bank or Credit Union #23 Overall

2014

2015

2016

2017

2018 0.04

2019

2020

2021

0.6

0.4

0.9

2012

2013

2014

1.5

1.7

2015

2016

2.1

2.3

2017

2018

2019

2020

2021

0.04

Charge-Offs % Delinquency %

0.26 0.03 0.21

0.11

0.11 0.01

0.01 0.06

0.07 0.02

2012

2013

2014

0.03 0

2015

2016

0

2017

0

2018

2019

0.01 0

2020

0.01 0

2021

Mortgage Overview — 5

Mortgage Concentration

by State Top 3 States 81.70%

1.87%

1.58% n 5% and Greater n 2%-4.99% n 1%-1.99% n 0.01%-0.99% n 0%

Demographics Average Age Average Tenure

Average FICO Loan Balance/Member

45 10 years

% of Total Loans

55.1

% Member Penetration

2.8

764 $258,837

% of Lending Income

53.3 Mortgage Demographics — 6

Mortgage Staff

42

Total Employees

Growth Since 2013

18

Total Employees

Dawn Bruce VP Mortgage Operations

4 – Underwriting 8 – Processing 4 – Closing 1 – Case Opener

+1 +2 +2 +1

7

5 – Outside MLOs 1 – Intern

+7

Total Employees

Karla Chevrie Mortgage Sales Manager

6

Chris Kerr Mortgage Sales Manager

5 – Outside MLOs

+6

4

Beverly Marshall Patterson Lead Loan Originator

2 – Inside MLOs 1 – Assistant

+1

4

Jamie Bonner AVP Lending Risk Manager

3 – Secondary Market/ Risk Specialists

+2

2

Home Equity

2 – Home Equity Processors

+0

Julie Bowering Director of Mortgage Lending

Total Employees

Total Employees

Total Employees

Total Employees

Mortgage Staff — 7

Auto 2021 Originations Growth

$168.5MM s $34.9MM

Portfolio

Growth

Dollars $319.8MM Accounts 18,673

Dollars Accounts

t $9.6MM or 2.9% t 1,942 or 9.4%

2021 Income Statement Revenue Contribution Margin

$8.2MM Indirect $6.4MM Indirect

2022 Outlook

Elements entered indirect lending in 2013 with one dealer and one aggregator. Today we partner with 6 dealer groups and 5 aggregators. In April 2020 Elements intentionally curtailed indirect auto volumes by 80% to reduce lending risk as unemployment reached double digits. We began rebuilding the volume on 2021 and are anticipating strong growth for 2022.

Indirect Outstandings $MM Direct Outstandings $MM

297

310

Indirect Volume $MM Direct Volume $MM

306

274

266

162 144

252

139

145

130 125

208

106

105

119 39

37 80

2012

74

65

62

66

67

68

68

64

67

36

38

2013

2014

2015

2016

2017

2018

2019

2020

2021

2012

2013

0.17

0.23

0.20

0.16 0.15

28

2014

2015

34

32

33

31

28

2016

2017

2018

2019

2020

38

2021

1.31

Charge-Offs % Indirect Delinquency % Delinquency % Direct Delinquency % 0.04

29

0.18

0.81

0.17 0.20 0.05 0.14 0.52 0.18 0.15 0.13 0.11

0.27 0.21

0.97

0.89

0.850.21 0.72 0.11 0.15 0.120.15 0.13 0.12

0.14 0.14

0.09

0.14

0.09 0.04

0.07

0

0.03

0

0.02

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Auto Loans Overview — 8

Auto Concentration

by State Top 3 States 29.04%

8.88%

7.76%

n 5% and Greater n 2%-4.99% n 1%-1.99% n 0.01%-0.99% n 0%

Demographics Average Age Average Tenure

Average FICO Loan Balance/Member

47 4 years

% of Total Loans

24.5

% Member Penetration

19.1

755 Direct // 728 Indirect $17,128

% of Lending Income

17.9 Auto Loans Demographics — 9

Auto Staff

1

Consumer Lending

2

1

1 – Underwriter

0

Indirect Lending

2 – Underwriters

+1

Student Lending

1 – Sales/Admin

-2

Total Employees

5

Total Employees

Growth Since 2013

Doug Jeffs AVP Consumer Credit Manager

Total Employees

Total Employees

Staff

4

Growth Since 2013

Inbound Loan Call Center

4 – Loan Specialists

-2

Loan Funders

1 – Consumer Loan Funder 2.5 – I ndirect Loan Funders

+1

Total Employees

8.5

Total Employees

Andee Kettlebar VP Sales

3.5

Total Employees

Auto Loans Staff — 10

Home Equity 2021 Originations Growth

$95.9MM s $20.3MM

Portfolio

Growth

Dollars $120.8MM Accounts 4,146

Dollars Accounts

t $0.5MM or 0.4% t 82 or 1.9%

2021 Income Statement Revenue Contribution Margin

$4.7MM $3.6MM est.

2022 Outlook

Elements’ .99% 6 month rate promotion continues to drive HELOC volume setting the stage for record originations in 2022 further helped by double digit year-over-year growth in home values. Equity loans are positioned to resume growth as mortgage refinances slow.

Outstanding $MM 138

136

142

Volume $MM 145

146

147

140

93

135 121

96

98

96

83

121

76 70 60

2012

2013

2014

2015

2016

2017

2018

2019

2020

0.29

Charge-Offs % Delinquency %

2021

53

52

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

0.09

0.07 0.06

0.12

0.11 0.03 0.06

0.02

2012

2013

0.01 0

2014

2015

2016

0.02

0.02

0.01

0.01

2017

2018

0

2019

0 0

2020

0 0

2021

Home Equity Overview — 11

Home Equity Concentration

by State Top 3 States 76.04%

2.32%

2.76% n 5% and Greater n 2%-4.99% n 1%-1.99% n 0.01%-0.99% n 0%

Demographics Average Age Average Tenure

Average FICO Loan Balance/Member

57 19 years

% of Total Loans

9.2

771 $29,131

% Member Penetration

4.2

Home Equity Organization Chart included in Mortgage Home Equity Demographics — 12

Credit Card 2021 Originations Growth

$127.33MM s $21.2MM

Portfolio

Growth

Dollars $24.4MM Accounts 12,729

Dollars Accounts

s $0.9MM or 3.8% s 467 or 3.8%

2021 Income Statement Revenue Contribution Margin

$4.0MM $1.4MM

2022 Outlook

Elements purchased its card portfolio from MBNA in 2012. The credit union’s portfolio is dominated by “Transactors” and is at the top of Visa’s universe in average ticket and total spend driving interchange to record levels last year. This growth is expected to continue throughout 2022 as spending continues to recover.

Outstanding $MM 22

23

26

26

27

26

Interchange $MM

27

24

24 21

2.3 2.0

2012

2013

2014

2015

2016

2017

2018

2019

2.45 0.38

2020

2021

1.6

1.6

2012

2013

1.7

1.6

1.5

2014

2015

2016

1.8

1.8

2017

2018

2019

1.9

2020

2021

Charge-Offs % Delinquency % 0.27 1.31 0.19

0.18 0.81 0.14

0.7

2012

0.1

0.53

0.52

2013

2014

2015

0.85

0.97

0.09

2016

2017

2018

0.89 0.12

2019

0.72

0

0

2020

2021

Credit Card Overview — 13

Credit Card Concentration

by State Top 3 States 81.49%

3.71%

2.08% n 5% and Greater n 2%-4.99% n 1%-1.99% n 0.01%-0.99% n 0%

Demographics Average Age Average Tenure

Average FICO Loan Balance/Member

52 17 years

% of Total Loans

1.9

% Member Penetration

13.7

747 $2,809 current

% of Lending Income

4.0 Credit Card Demographics — 14

Credit Card

Ron Senci EVP Lending & Sales Sales, design, pricing, marketing

Staff

Tim Greene VP Innovation & Alignment

4

Total Employees

Ryan O’Connor AVP Payments, Cards & Experience

3 – Credit Card Administrators

Growth Since 2013

+2

Functionality, maintenance, issuance, security, member service.

Credit Card Staff — 15

Commercial 2021 Originations Growth

$37.5MM s $16.5MM

Portfolio

Growth

Dollars $53.5MM Accounts 106

Dollars Accounts

s $13.3MM or 33.1% t 2 or 1.9%

2021 Income Statement Revenue Contribution Margin

$2.5MM $1.4MM

2022 Outlook

Elements established the Commercial Lending group in 2016.

After building out the systems, controls and products we began originating loans in 2018. The group is positioned for strong growth with the recent addition of a new seasoned commercial lender and new SBA lender.

Outstanding $MM

38

Volume $MM

54

40

23 31

21

18 19

7 0

2

5

2015

2016

2017

2018

2019

2020

2021

0 0

0 0

2016

3

2015

2016

2017

2018

2019

2020

2021

0.59

Charge-Offs % Delinquency %

2015

0

1.63

0 0

2017

0 0

2018

0

2019

0

2020

0 0

2021

Commercial Overview — 16

Commercial Concentration

by State Top 3 States 83.57%

4.47%

2.14% n 5% and Greater n 2%-4.99% n 1%-1.99% n 0.01%-0.99% n 0%

Demographics Average Age Average Tenure

Average FICO Average Loan Balance

44 3 years

% of Total Loans

4.2

% Member Penetration

0.1

N/A $508,403 current

% of Lending Income

3.2 Commercial Demographics — 17

Commercial Staff

3

Total Employees

David Bedwell Director of Commercial Lending

2

Sales

1 – Commercial Lender 1 – SBA Lender

2

Underwriting

2 – Commercial Credit Analysts

Total Employees

Total Employees

4

Total Employees

Deanna Hartman AVP Commercial Credit Manager

Growth Since 2013

+3

+4

1

Total Employees

Administration

1 – Commercial Lending Specialist

Commercial Staff — 18

Private Student 2021 Highlights Originations Growth

$2.8MM t $0.2MM or 6.6%

Portfolio

Growth

Dollars $48.7MM Accounts 1,416

Dollars Accounts

t $6.9MM or 12.4% t 75 or 5.0%

2021 Income Statement Revenue Contribution Margin

$1.6MM $0.6MM* *Includes approximately $960,000 of accelerated deferred expenses.

2022 Outlook

Elements entered the student lending business in 2008 with an investment in CU Student Choice of which we maintain a 5.3% ownership interest. In March 2018 our reinsurance provider ReliaMax was declared insolvent.

As a result, Elements exited a program geared to international graduate students which resulted in declines in the portfolio. Recent program enhancements as well as the upcoming May expiration of the government’s student loan blanket deferments should allow for stabilization of the outstandings and growth in 2023.

Outstanding $MM

60

63

69

66

13

63 56

50

Volume $MM

12

12

10

49

10

9

41

8

7

30

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2012

Charge-Offs % Delinquency %

2.07

1.58

0.83

0

2012

0.45

2013

1.04

2014

2015

2016

2017

2018

2019

3

3

2020

2021

1.13 1.94

0.77 0.56

1.05 0.45

0.49 1.00

0.36

0.75

0.61

0.17

0.40

0.13

2013

2014

2015

2016

2017

2018

2019

2020

2021

*All reporting excludes ITT.

Private Student Overview — 19

Private Student Concentration

by State Top 3 States 47.66%

8.80%

7.61% n 5% and Greater n 2%-4.99% n 1%-1.99% n 0.01%-0.99% n 0%

Demographics Average Age Average Tenure

Average FICO Loan Balance/Member Balances in Repayment

32 6 years

% of Total Loans

3.7

% Member Penetration

1.4

755 $31,976 current 82%

% of Lending Income

1.7 Private Student Organization Chart included in Auto Private Student Demographics — 20

Asset Recovery

2021 Stats Repossessions Foreclosures Bankruptcies

62 0 88

2022 Outlook

Delinquencies and charge-offs are expected to increase with the end of federal stimulus and as inflation erodes member earnings with the full impact not materializing until 2023-24. Minimal future pandemic impact is anticipated as the team successfully worked with members ultimately deferring payments on over $80MM in loans. Elements currently has no COVID related forbearances.

Bankruptcies

Repossessions 207

204

129

130

126

98

206 82

175 121

113

127

142

139

62

54 88

36 27 14

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

Delinquent Accounts 2,143

2,099 1,898

1,600 1,419

1,382

2020

2021

1,169 939

815 522

2012

2013

2014

2015

2016

2017

2018

2019

Asset Recovery Overview — 21

Asset Recovery Staff

4

Collections

4 – Loan Adjustment Specialists

+1

1

Wellness Counseling

1 – Member Solutions Manager

0

Total Employees

6

Total Employees

Growth Since 2013

Jacob Van Velse Asset Recovery Manager

Total Employees

Asset Recovery Staff — 22

Deposits Overview Portfolio

Growth

Dollars $1.7B Accounts 190,815

Dollars Accounts

t $.3MM or 0% s 5,039 or 2.7%

Core Products High Interest Checking Helium Savings CD Specials

2022 Outlook

Deposit growth is anticipated to increase as the Federal Reserve begins raising rates in the coming months. Elements will begin to again grow Certificate balances and focus on retaining Savings deposits as members migrate back into Certificates. As member spending accelerates deposit growth pressures will drive up rates.

Deposit Balance by Product

Certificate

Savings

Checking 304 230

189

270 692

285 737

140

152

167

534

555

542

200

192

214

250

267

236

259

2012

2013

2014

2015

2016

2017

2018

550

601

377

418

1,136

1,177

220

138

2020

2021

782

307

2019

Deposits Overview — 23

Deposits Overview Concentration

by State Top 3 States 74.23%

4.25%

2.70% n 5% and Greater n 2%-4.99% n 1%-1.99% n 0.01%-0.99% n 0%

Demographics Average Age Average Tenure

Deposit Balance/Member

46 11 years

$17,674

% Member Penetration

52.1

Deposits Overview Demographics — 24

Checking Totals Dollars Accounts

$417.6MM 37,913

Growth Dollars Accounts

s $39.1MM or 11.4% s 1,735 or 3.3%

Checking Products ($MM) High Interest Checking Basic Dividend* HSA Think BIG* Private Client Student Edge Business

2022 Outlook

As the employees for Lilly and our other SEGs return to their offices and our RMs resume on-site workshops, new checking volumes are anticipated to return to Pre-COVID levels. The upcoming HINT promo, 4% for 12 months, will raise awareness and drive engaged checking members.

$238.9 $46.3 $37.3 $36.2 $30.1 $20.1 $2.5 $16.0

*Grandfathered

Product/Services Penetration eStatements eBranch Debit Cards Direct Deposit Bill Pay SavvyMoney Remote Capture

t 84.7% s 77.1% s 74.1% s 66.4% ­ 37.0% s 27.5% t 15.2%

Deposit Balance by SEG

Association

Lilly SEG

Other SEGs 87 76

31 13

20

186

66

41

46

213

221

218

273

301

15

17

125

135

0

1

5

9

13

16

18

20

28

29

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

149

160

Checking Overview — 25

Checking Concentration

by State Top 3 States 71.61%

3.59%

3.50% n 5% and Greater n 2%-4.99% n 1%-1.99% n 0.01%-0.99% n 0%

Demographics Average Age Average Member Tenure Average Balance

% of Total Deposits

24.1

46 14 years $10,058

% Member Penetration

38.7

Checking Demographics — 26

Savings Totals Dollars Accounts

$1.2B 108,965

Growth Dollars Accounts

s $41.2MM or 3.6% s 5,172 or 4.1%

Savings Products ($MM) Helium Private Client Member Premium MM Hideaway Business IRA Youth No Dividend

2022 Outlook

Saving balances will be stressed as members increase spending. Additionally as rate differences begin to widen between savings and CDs, savings dollars will begin migrating back into higher yielding investments.

$556.6 $227.0 $205.7 $137.7 $17.2 $16.0 $7.8 $7.2 $1.0

Deposit Balance by SEG $MM

Association

Lilly SEG

176

Other SEGs

699

34

33

16

24

500

522

523

521

44 549

80

99

561

544

196 793

127 527

261 1

1

3

5

8

51

94

128

2012

2013

2014

2015

2016

2017

2018

2019

189

2020

2021

Savings Overview — 27

Savings Concentration

by State Top 3 States 75.12%

4.37%

2.27% n 5% and Greater n 2%-4.99% n 1%-1.99% n 0.01%-0.99% n 0%

Demographics Average Age Average Member Tenure Average Balance

% of Total Deposits

67.9

46 9 years $10,793

% Member Penetration

38.1

*Excludes Savings accounts with $15 or less.

Savings Demographics — 28

Certificates/IRAs Totals Dollars Accounts

$137.5MM 4,200

Growth Dollars Accounts

t $82.3MM or 37.5% t 1,868 or 30.8%

Certificate Products Various terms ranging from 6 months to 10 years.

2022 Outlook

Elements intends on growing CDs primarily by offering competitive specials on terms beneficial in managing the balance sheet.

Over the last two years, the credit union intentionally allowed runoff to reduce deposits in order to bolster its capital ratio.

In growing CDs, we will be lengthening the average life thus reducing rising rate sensitivity of the overall balance sheet.

Deposit Balance by SEG $MM

Association

Lilly SEG

5

8

8

180

172

Other SEGs

9

20

200

201

37 14 190

191

24

254

221

28 176 16 114

12

12

18

42

46

32

14

16

16

8

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

Certificates Overview — 29

Certificates Concentration

by State Top 3 States 74.46%

5.53%

3.67% n 5% and Greater n 2%-4.99% n 1%-1.99% n 0.01%-0.99% n 0%

Demographics Average Age Average Member Tenure Average Balance

% of Total Deposits

8.0

58 22 years $35,726

% Member Penetration

4.3

Certificates Demographics — 30

Private Client Totals Loans Deposits

Growth Dollars Dollars

$160.1MM $341.2MM

s $15.7MM or 10.9% t $18.5MM or 5.1%

Averages Average Loan Average Deposit Account

$68,349 $145,607

Largest SEGs Tru Direction Eli Lilly IU Health Somerset CPAs Allied Solutions

2022 Outlook

The Private Client group was formed in 2015. This group provides concierge level service to high net worth members. The team deepens existing relationships while attracting new members who in many cases utilize similar services elsewhere. This has been especially successful in solidifying relationships with existing SEGs by attracting influential executives and professionals.

160

Loans $MM

Deposits $MM

144

360

341

121 262

151 107

8

2015

23

2016

29

33

64 18

2017

2018

2019

2020

2021

2015

2016

2017

2018

2019

2020

2021

Members 2,198

2,343

1,733

850 516 84

256

2015

2016

2017

2018

2019

2020

2021

Private Client Overview — 31

Private Client Staff

1

Total Employees

3

Total Employees

Growth Since 2013

Ryan Sebree Private Client Officer

Ashlie Dew AVP Private Client Services

+3

1

Total Employees

Samantha White Administrative Assistant

Private Client Staff — 32

Business Development / SEGs Totals & Growth

$300MM

Loan and Deposit Growth

$270MM

Deposits

$240MM

Loans

s $27MM or 12% s $53.8MM or 22.6%

Association Loans Deposits

$605.5MM $224.9MM

s $52.0MM or 9.4% t $77.9MM or 25.8%

Lilly Loans Deposits

$367.2MM t $34.0MM or 8.5% $1,202.2MM s $62.2MM or 5.5%

$300MM

June 2019 Elanco Added

$270MM $240MM $210MM

Initiated New SEG Strategy

$180MM

$120MM

$291.7MM $276.0MM

March 2015 Monthly Profitability Achieved

$210MM

$150MM

Other SEGs Loans Deposits

Start of SEG Strategy

$180MM $150MM

Covance & Evonik account for 78% of Deposits and 57% of Loans

$90MM $60MM

$120MM $90MM $60MM

$30MM

$30MM 2008 5 SEGs*

2009 16 SEGs

2010 24 SEGs

2011 25 SEGs

2012 38 SEGs

2013 55 SEGs

2014 64 SEGs

Total Deposit Balance Comparison by SEG Group $MMs Other SEGs

Association

2016 103 SEGs

Other SEGs

2018 136 SEGs

2019 144 SEGs

Association

1,208 437

996

948

2017 121 SEGs

2020 148 SEGs

2021 159 SEGs

2008

Total Loan Balance Comparison by SEG Group $MMs

Lilly 1,147

928

2015 89 SEGs**

596 532

515

483

466

Lilly

439

421

388

360 289

211

181

150

98

2017

185

125

2018

*Year End 12/31 excludes Lilly and Assoc **13 SEGs by way of State Merger

209

254

305

163

2019

2020

270

245

142 226

2021

2017

2018

2019

2020

2021

Business Development / SEGs — 33

Business Development / SEGs SEG Deposit, Loan, and Membership Growth Total Deposits

Total Loans

Total Membership

2019

Elanco

$47,574,249

2016

Indiana University Health

$121,879,073

2013

OneAmerica Financial Partners

3,125

2015

State of Indiana Employees

$36,397,457

2019

Elanco

$24,036,427

2015

State of Indiana Employees

2,407

2016

Indiana University Health

$28,675,856

2015

State of Indiana Employees

$15,515,159

2014

The Heritage Group

2,276

2016

Butler University

$20,404,043

2013

OneAmerica Financial Partners

$11,164,094

2016

Indiana University Health

1,844

2012

Allied Solutions

$15,067,285

2016

Butler University

$8,154,338

2013

Angie’s List, Inc.

1,836

2013

OneAmerica Financial Partners

$12,211,199

2016

Franciscan Alliance

$6,292,481

2019

Elanco

1,437

Allied Solutions

$5,770,110

2012

Allied Solutions

1,233

2016

Somerset CPAs and Advisors

$11,039,014

2012

2010

Evonik

$10,353,903

2013

Angie’s List, Inc.

$4,912,907

2012

Archdiocese of Indianapolis

1,178

2010

Covance Labs, Inc.

$7,846,079

2019

Republic Airways

$4,748,325

2014

Koorsen Fire and Security

1,145

2019

Republic Airways

$7,152,661

2019

Roche Diagnostics

$4,162,571

2016

Butler University

969

12 Month Deposit Growth

12 Month Loan Growth

12 Month Membership Growth

2012

Allied Solutions

$5,870,290

2016

Indiana University Health

$33,521,540

2019

Helmer Scientific

254

2016

Indiana University Health

$2,483,289

2013

OneAmerica Financial Partners

$4,422,685

2013

OneAmerica Financial Partners

183

2019

Elanco

$2,450,259

2013

AmericanStructurepoint

$1,989,575

2016

Indiana University Health

161

2016

Butler University

$1,993,212

2019

Roche Diagnostics

$1,856,014

2013

AmericanStructurepoint

84

2016

Somerset CPAs and Advisors

$1,500,014

2012

Allied Solutions

$1,602,926

2012

Allied Solutions

77

2010

Covance Labs, Inc.

$873,682

2016

Williams Randall Advertising

$1,289,627

2021

Greenwood Village South

68

2013

OneAmerica Financial Partners

$862,003

2015

Indians, Inc.

$1,003,535

2014

Koorsen Fire and Security

49

2021

American Legion

$663,891

2019

Republic Airways

$904,210

2010

MISO

48

2016

Wilhelm Construction

$637,284

2016

Franciscan Alliance

$902,498

2019

Republic Airways

48

2020

Dream Alive

$548,132

2016

ExactTarget

$892.935

2019

Elanco

36

Business Development / SEGs — 34

Business Development / SEGs Growth Since 2013

Staff

7

Andee Kettlebar VP Sales

1

Todd Shickel VP Business Development

Total Employees

Total Employees

6

Total Employees

Abbey Askew AVP Business Development

4 – Relationship Managers 1 – Financial Solutions Experts

+3

Business Development / SEGs Staff — 35

Branches

2022 Outlook

Branch traffic is anticipated to rebound back to about 80% of Pre-COVID levels. Lilly employees returned back to the office March 1st while the Governor has asked State employees to return but hasn’t set a date. It doesn’t appear that Lilly retirees will regain access to Lilly facilities with many now visiting our Farm Bureau Branch.

Lilly Corporate Center (LCC) Access: Restricted Staffing: 4 current

Established: 1930 Cash Machine: ITM

Indiana Government Center (IGC) Access: Public Staffing: 3 current

Established: 2015 Cash Machine: ATM

Lilly Technology Center (LTC) Established: 1968 Access: Restricted Cash Machine: ITM Staffing: 4 current

Farm Bureau Center (FB) Access: Public Staffing: 4 current

Established: 2007 Cash Machine: N/A Branches Overview — 36

Branches Staff

4

16

Total Employees

Growth Since 2013

Total Employees

Quentin Girtin Branch Manager LCC

2 – Financial Solutions Experts 1 – Universal Teller (open)

4

1 – Financial Solutions Experts 2 – Universal Tellers

0

Total Employees

Kyle Plumlee Branch Manager LTC

3

2 – Universal Tellers

-1

Total Employees

Sherry Gaw Branch Manager IGC

4

April Bratton Branch Manager FB

2 – Financial Solutions Experts 1 – Universal Tellers

0

+1 -3

Andee Kettlebar VP Sales

Total Employees

Branches Staff — 37

Marketing

Summarizing Our Marketing Approach Career satisfaction, trust, teamwork, and frequent communication come together to form the strong foundation of this team known to be high performers at Elements and within the credit union industry.

Digital means of marketing are our primary focus, in line with the organizational strategy of Digital Excellence. We also engage strategically in multiple traditional methods of advertising, including direct mail and outdoor advertising/billboards, both on a limited basis.

Corporate sponsorships play a significant role in our community relationship building, such as our major partnerships with the Indianapolis Indians where we have naming rights of the all-new Elements Financial Club at Victory Field; Butler University; and the Indy Chamber. Print advertising is targeted to local business publications only. Social media channels play a role in what we do, yet we consider them secondary or “bonus” channels, primarily for brand awareness.

Representing a large investment of time, this department works handin-hand with multiple sales teams across the organization to support their “boots on the ground” efforts in Business Development, Mortgage Loan Origination, Wealth Management, Private Client Services, and Commercial Lending.

All-new Elements Financial Club at Victory Field

Ongoing departmental priorities include: Automation Collaborating closely with IT and Operations, Marketing seeks to maximize the capabilities of our automation tools that allow for ongoing email and even limited direct mail campaigns triggered by certain member behaviors, product choices, and milestones. We continually evaluate multiple factors of automation, such as demand, efficiencies achieved, relevance to strategy, frequency and timeliness, and overall impact to the organization.

Product Promotions We conduct promotions based on an annual calendar driven largely by product seasonality, organizational priorities, and/or shifting needs of the business.

Branding, Awareness, and Market Research Our Elements brand was born in January 2015. The rebrand was one of the most significant changes and projects in our credit union’s history, and our work in this area never ends. Every employee is considered a Brand Advocate with the Marketing team at the helm of growing and protecting the brand through multiple awareness opportunities as mentioned in this plan.

Additionally, we monitor, maintain, and proactively protect our trademark registrations on file with the US Trademark Office. We measure brand recognition and advertising awareness through an annual market research study.

Marketing — 38

Marketing Supporting the Core Strategy Financial Wellness Our team works closely with Business Development to provide a robust financial wellness curriculum, keeping it fresh, updated, and relevant to member interests and needs. We work together to present financial wellness workshops through various channels — mostly digital — including a sophisticated web broadcasting platform called Boxcast, Facebook Live recordings, Community Workshops open to all members, and targeted SEG webinars through Microsoft Teams. We also manage a large library of proprietary educational resources here on our website at elements.org/Advice.

Managed Growth A large part of what we do daily supports other teams and their goals, which leads to the growth of our credit union overall. We also serve a higher and longer-term purpose of supporting our culture and strengthening the brand of Elements Financial.

Financial Wellness Workshops on our home-grown Boxcast Webinar Platform Digital Excellence As a digitally-driven credit union, our marketing efforts follow suit.

Our methods seek to meet members and consumers where they are, through highly relevant and mostly digital means of message delivery, often even automated. We invest in primarily electronic methods to communicate with our members as well as consumers at large who represent our prospective members. Emails including a twice-monthly e-newsletter to 70,000+ members are our go-to channels as well as digital advertising based on behavioral targeting and re-targeting. We use SEM/Google Search, display ads, paid social media via Facebook/Instagram/Pinterest; online radio spots via Pandora and Spotify; and online video via a range of streaming sources. We use organic social media to reinforce our brand (Facebook/Instagram/LinkedIN/Glassdoor).

Marketing — 39

Marketing Personifying the Elements of Success The Marketing Team believes in upholding the purpose of Elements — Empowering members to achieve financial success. We do that by looking to our corporate values to guide our daily communications, behaviors, and decisions.

Accountability > Establish goals for key promotions to pursue and measure success. > Ensure a balanced budget according to plan.

Collaboration > Work closely with internal teams, assigning marketing points of contact to each area for maximum efficiency and streamlined communications. Collaboration with our valued vendors is also crucial to our success.

Community > Leverage community partnerships and corporate sponsorships to improve brand awareness and business. > Serve as leaders of the Elements Cares & Purpose Day initiatives.

Our Elements of Success prominently displayed in Town Square

Watch our 2021 Purpose Day wrap up video on Elements Financial’s Facebook page.

Integrity Ensure accuracy of information by organizing content reviews and approvals by subject matter experts, including Compliance, when triggers are included.

Leadership Set high standards of responsiveness, timeliness, and quality and encourage the same from other teams through brand guidelines and audits; staff training in the areas of branding, social media, and communications; and frequent reminders to our peers to proactively communicate.

Check presentation at Little Red Door Cancer Agency

Trust We may not always agree with our colleagues, and we cannot deliver on every request, yet we will maintain relationships built on trust that allow room for different points of view.

Purpose Day efforts supporting NeighborLink Indy

Marketing — 40

Marketing Defining Our Audiences/Messages/Channels/Results TARGET AUDIENCES B2B Target Medium to Large Businesses in Central Indiana We are not a community-based credit union open to consumers based on a geographic footprint like many of our competitors. Our credit union model is employer-driven and SEG-Based (Select Employer Group). We began as a single-sponsor credit union in 1930 with Eli Lilly and Company; in 2008 we transitioned our charter to include multiple companies; today in 2021, we have more than 150 partner organizations, as listed on elements.org/Partner. Business decision makers at the executive level and in human resources departments are a key audience to us as “the foot in the door” at new companies.

B2C Target 25 to 55, primarily female as the banking decision makers in the household, middle to upper income, educated and employed In the recent past, we paid for television advertising with our local NBC affiliate, and this is the target consumer audience we identified with the station. This audience remains essential to us through other means of advertising, especially our digital methods.

But always the priority audience within our B2C efforts, we have 110,000+ captive current members of our credit union. The more engaged they become, the more likely they are to stay with us for a lifetime. We continually market to this current engaged base of individuals.

KEY MESSAGES We have what we call our “Brand Pairings” as the keystones of our messaging — see below.

As part of our Marketing vision, we seek to drive home one or more of these pairings in every communication, either directly or inherently. We’re also highly dedicated to diversity and inclusion within our marketing materials. If you tour our website and other assets, you’ll see that commitment reflected in our imagery, and our team has created a Diversity in Advertising position paper, as well.

Why are we “like a bank, only better”?

Better Rates.

Trusted Advice.

High Tech.

Respected Locally.

Fewer Fees.

Fresh Approach.

Human Touch.

Accessed Globally.

Diversity in Advertising Position Statement available on Elements eTown

“Employer of Choice” This is our employer brand and recruitment theme that we support through a close collaboration with Human Resources.

Marketing — 41

Marketing Defining Our Audiences/Messages/Channels/Results continued CHANNELS Typically, when people think of Marketing, their minds go straight to the tactics and channels.

A solid strategy always begins with the right targeting, a strong offer, and a message that’s intended to resonate with the recipient. Yet the tactics are crucial to our process. The following list shows the many ways Elements communicates with members, and the many channels Marketing owns or influences: > Face to Face Meetings (in-person or digital) > Financial Wellness Workshops > Phone Calls, including Auto Dialer and Hold Messages > Direct 1:1 Emails via Outlook > Branch In-Person Visits > Branch Posters > Branch Video Displays > Branch Promo Handouts > Branch Touch Kiosk (at LCC) > ATM/TIMs > OLB Alerts & Guides > Website

> Digital Ads > Paid Google Search/ SEM/SEO > Promo Emails > Email Newsletter > Direct Mailings > Statements/Statement Messages > Outdoor Advertising/ Billboards

Elements billboard featuring High Interest Checking Account

> Radio Streaming (Pandora – Spotify) > Video Streaming (various platforms) > Social Media: Facebook/Instagram/ LinkedIn/Glassdoor/Twitter/Pinterest (both organic content & paid ads)

RESULTS We track marketing and sales success based on organizational annual goals for deposits, loans, and membership growth. For some campaigns, particularly our digital advertising, we track results closely with WilliamsRandall, our digital advertising agency of record. We look at clickthroughs, apps generated, and costs per click/per application. We also continue to look to Business Intelligence and Marketing Cloud for analysis of campaigns and communications. Asking for and evaluating anecdotal feedback from our internal partners is also helpful on an ongoing basis.

Marketing — 42

Marketing Honoring Our Progress Here’s a set of highlights from 2021, a productive year in Marketing: > Corporate sponsorships played a significant role in our community relationship building. We completed our first full season with naming rights of the Elements Financial Club at Victory Field, and our 7th year in partnership with Butler. > IT’s new hire of a Salesforce Marketing Cloud Administrator allowed for progress in automated email sends, surveys, and even direct collections and loan servicing mailings based on certain member behaviors, product choices, and milestones. > Conducted successful auto loan, pre-approved credit card, and mortgage promotions (to name a few) that fed our credit union’s growth goals. Developed new promotions based on shifting business needs, such as the new student loan refinance program at year-end. > Worked hand-in-hand with multiple sales teams to support their efforts, including Wealth, Private Client, MLOs, and Business Development. Our involvement in the financial wellness curriculum and broadcasting increased with the expansion of the Advice Library, Quick Advice videos, and Community Workshops open to all members. > Marketing’s strong influence in the design of HQ and the LTC branch remodel came to life in the summer months.

Lastly, here’s a look at 15 years of marketing milestones for Elements:

2008 New Multi-SEG Charter shifts marketing approach; Tru Direction formed

Core conversion; early SEGs added

2012 Eli Lilly Federal Credit Union begins marketing under acronym/nickname of Elfcu

2013-2014 Rebrand Project begins and continues behind the scenes

2015 We become Elements Financial!

New community partnerships begin with Indianapolis Indians, Butler University, and local NBC affiliate that included sponsorship of school closings and ongoing commercial placements, (Elements would appear in two Olympics opening ceremonies in the coming years!) Acquired Elements trademark.

2016 New partnership formed for website and digital advertising with Williams Randall Advertising, local agency of record.

2017 Personalized Websites introduced providing custom, co-branded approach to every SEG

2018

> Strong collaboration with our valued vendors led to effective digital advertising campaigns, high-quality branded custom photography to feature on our website and on billboards; and several industry’s best video products for Elements, including the Annual Meeting highlights reel and the Purpose Day vignette.

Began ad streaming to Pandora/Spotify and multiple television sources/platforms; launched Butler University debit and credit cards

> The full team developed a Diversity in Advertising Position Paper to share with the organization.

First-Ever Community Billboards Campaign; launched Indianapolis Indians debit and credit cards

2019

At year-end, we measured brand recognition and advertising awareness with SMARI, Inc. Results indicated areas of opportunity plus movement in both “brand awareness” (+10%) and “brand familiarity” (+15%) among prospects/nonmembers, as compared to the last study in 2019. We’re also seeing indications that key messages such as “Better Rates and Fewer Fees” are resonating with the public.

Please visit the eMarketing page on eTown for additional resources of interest, including our 2022 Promotions Calendar, our Diversity in Advertising Position Paper, and much more.

2009-2011

2020 Crisis Communication Response to pandemic; stayed course with digital advertising, leading to record results for campaigns; broadcasting technology established.

2021 Branding of new Elements HQ, including timeline feature wall; Elements Financial Club at Victory Field opens for first full season

2022 The Future is Bright!

Marketing — 43

Marketing Staff

2

Jake Engel Brand Strategist

2

Ross Graham AVP Creative & Digital Experience

Total Employees

6

Total Employees

Michelle Payne VP Marketing

Total Employees

1 – Marketing Intern

Growth Since 2013 +1

+1

Chris Miller Marketing Strategist

1

Total Employees

Karmen Johnson Communication Strategist

+1

Marketing Staff — 44