Northwest Federal Credit Union and First Financial Announce Expected Completion of Merger

Global Federal Credit Union and First Financial Northwest, Inc. Announce Expected Closing Date for Transaction

SEATTLE, Wash. and MADISON, Wis., March 14, 2023 - Global Federal Credit Union (GFCU) and First Financial Northwest, Inc. (FFNW) today announced that the expected closing date for their previously announced merger is now anticipated to be on or about June 30, 2023.

The merger, which was announced on November 17, 2022, is subject to regulatory approval and other customary closing conditions. The combined organization will operate as First Federal Credit Union, with headquarters in Seattle, Washington.

"We are excited to move closer to completing this merger, which will enable us to better serve our members and the communities we serve," said Mark Wolfe, President and CEO of GFCU. "Our teams have been working diligently to ensure a smooth transition, and we are confident that the combined organization will be well-positioned for future growth and success."

"We believe that this merger will be a significant step forward for our organization, allowing us to expand our reach and capabilities," said Joseph R. Pinson, President and CEO of FFNW. "We are looking forward to welcoming the GFCU team and members to the First Federal Credit Union family."

The combined organization will have assets of approximately $2.5 billion, making it one of the largest credit unions in the country. The merger is expected to result in a stronger, more efficient organization that will be better equipped to serve its members and the communities it serves.

About Global Federal Credit Union Global Federal Credit Union is a not-for-profit financial cooperative serving over 50,000 members in Wisconsin, Illinois, and Indiana. The credit union was established in 1954 and is headquartered in Madison, Wisconsin.

About First Financial Northwest, Inc. First Financial Northwest, Inc. is the parent company of First Federal Savings and Loan Association, a federally chartered thrift with assets of over $1.5 billion. The company is headquartered in Seattle, Washington.