Notes from Amy
In today’s world of economic turmoil, isn’t it comforting to know that you have a safe haven to transact your financial business? Your credit union takes great pride in providing security for our members in regards to their financial transactions.
Recently, in a local newspaper, your credit union was awarded a 5 Star rating, the highest rating given. This rating is very important to you, our member, as you make decisions on where to invest your money. We are a secure financial institution that has a more than adequate capital reserve. We maintain an “allowance for loan losses” that is monitored monthly by our Board of Directors and is adequately funded in regard to the losses that have sporadically occurred over the history of the credit union. When investing excess funds for the credit union, deposits are made into federally insured certificates. The credit union has no investments in any of the recently challenged investment firms.
More importantly, the U.S. government stands behind the NCUSIF, which is our insurance fund that protects your savings. Also, your credit union is examined regularly by federal regulators in order to ensure the credit union is engaged in safe and sound operations.
Please do not hesitate to call if you have any questions regarding your accounts at the credit union. Look for the statement insert, Credit Unions: Safe and Sound, in this month’s statement. This brochure will explain in depth the deposit insurance coverage.
As always, I look forward to seeing you at the credit union!
Amy : )
