YOUR MONEY IS INSURED AND SAFE AT YOUR CREDIT UNION

On Saturday October 3, 2008 Congress passed and the President signed into law the Emergency Economic Stabilization Act of 2008.  The purpose of the legislation is the government's attempt to restore consumer confidence in our financial markets.  This legislation required the National Credit Union Administration (NCUA), the federal agency which oversees all federally chartered Credit Unions such as ours, to immediately increase share insurance protection to $250,000.00 on all types of Credit Union accounts until December 31, 2009.  All accounts at this Credit Union are now Federally insured to $250,000.00.  This Credit Union does not hold any real estate investments nor do we invest your money in the stock market.  The Credit Union philosophy and priority of safeguarding member assets is safety, liquidity, and yield.  The safety of member deposits is our primary concern.  Having those funds available for immediate member use is also important.  The investments we purchase are short-term which typically are safer although they do not earn the highest rate of return.  This new legislation only increases the insured amounts on your Credit Union accounts.  It does not change how the Credit Union operates.  Please feel free to call the office if you would like to discuss this new insurance protection or any other Credit Union questions.