Dear Member:

At our annual meeting on April 27, Corporate One announced the results of the election of directors and highlighted our financial and strategic achievements from the past year. In 2022, the economy shifted quickly from one flush with liquidity and near-zero interest rates to one with tightening liquidity and a rapidly rising interest rate environment as the Federal Reserve fought to mitigate inflation. Thanks to our members' ongoing support and our organization's strategic management, we were pleased to report that Corporate One successfully navigated these changes for the benefit of our members.

In 2022, we recorded another strong year of financial performance, and, most importantly, we continued to grow in meaningful ways that are critical to our future success and that of our members. Highlights from the past year include the following:

• $5.6 million in Perpetual Contributed Capital (PCC) dividends was paid to our PCC holders, our highest level ever. 2022 was also the third year in a row that we paid our members a bonus PCC dividend.  
• $66.6 million was added to retained earnings, ending the year at $269.4 million, and our total regulatory capital was $489.1 million.
• We welcomed 28 new members, added more than 100 new and dormant investment accounts, and helped members invest $608 million in securities.
• We assisted credit unions with issuing $453 million in SimpliCD, a 280% increase over 2021.
• Our two wholly owned CUSOs also had a successful year:
  1. Accolade Investment Advisory launched their digital solution that estimates a credit union’s reserve under the current expected credit loss (CECL) methodology and now has 67 credit unions using the platform.
  2. Lucro Commercial Solutions welcomed 17 new partners to their Digital Business Lending Center (DBLC) and seven traditional partners.
• We continued to push forward our immediate payments strategies, especially our goals to provide robust education and leadership not only to our members but also to the credit union industry:
  1. In 2022, we presented at 11 industry events on real-time payments and held an online RTP webinar series, reaching more than 800 credit union professionals in total.
  2. We successfully piloted four credit unions on our new CU Corporate Payments on the RTP^® network solution, which we rolled out officially this March. We brought our first natural person credit union live on the RTP network as their third-party service provider; we are currently helping 7 credit unions with their funding agent needs.  
• 2022 was also a big year for improving our members’ experiences with enhanced digital functionality to make it easier for them to do business with us. We reimagined and launched a new and improved member account management system, which we now call Member$MART+. In addition, we continued to enhance MyCorp1 Manager, which nearly all members now use for user administration. We also redesigned our public website and updated it with improved navigation, a mobile-friendly interface, and searchable content.

I encourage you to review our 2022 Financial Report for more details on our performance and how we continue to work diligently to help our members succeed. We remain committed to being the best partner we can be, supporting and helping our members provide value to their respective memberships as we further strengthen and advance credit unions within the larger financial industry.

Best,