You all have heard lots
of stories regarding the sub-prime loans and the
institutions that have had massive losses from this type of
YOUR CREDIT UNION DID NOT
DO ANY OF THOSE LOANS.
We did not loosen our
lending standards to make loans that in the long-term were
detrimental to our members and the credit union. Our goal
is to improve the financial well being of our member /
owners. We make loans that benefit our member by charging
our member-only interest rate and minimizing our fee
structure to not overburden the process. We strive to make
each program pay for itself and therefore, do not
cross-subsidize programs with fees from other programs.
Another key point is our
share insurance. Each account is insured up to $100,000 by
the NCUA. IRA accounts are separately insured to $250,000.
Members may have coverage above that level by structuring
their accounts with joint ownership and trust account
arrangements. Please ask any staff member for a brochure
explaining the insurance coverage’s available, or visit the
NCUA site to obtain a copy in pdf format:
You may want to restructure your
accounts to maximize the amount of insurance that is
available to you through NCUA for your credit union accounts
and the FDIC for any bank accounts.
Our credit union has been given
a 5 star rating by an independent company for many years as
well as maintaining 11% capital. Credit unions are only
required to have 7% capital, so we have lots put aside for a
Our financial information is
available through the NCUA website listed below.
Simply put the period of 3/08 or
12/07 and then pick the financial analysis or the ratio
analysis button to see our performance.