|
MEMBERS may have read about a recent Congressional bailout, and we want to assure you that United Local Credit Union is protecting your deposits and your loans!
With the passage of HR1434 - Emergency Economic Stabilization Act 2008, your deposits are now safer.
- The Strength of our credit union is measured by "Capital" or the amount that is "set aside" in reserve to protect the credit union. Currently, United Local Credit Unin, a $110 million credit union, has in excess of 14% Capital...well above the 7% required by our regulators!
- Each account at United Local Credit Union is now insured up to $250,000 by the National Credit Union Administration (NCUA) one of the strongest deposit funds in the nation
- Additionaly, your credit union uses American Share Insurance (ASI) to insure any of your funds beyond the $250,000 to $500,000
- Currently loan delinquency is very low at less than a 1/2% of portfolio. We are making safe, sustained consumer and mortgatge loans to our long-standing Members from among hard-working folks in the Fresno area.
- At year-end 2007, United Local Credit Union posted a strong earnings year with Return On Assets of 1.13%...well-above average for our industry!
|
