| YOU ARE WELCOMED TO USE THE FOLLOWING LETTER AS A SAMPLE FOR YOUR WEBSITE OR TO CREATE A NEWSLETTER ARTICLE. Please note the underlined spaces either need to have your CU’s name inserted or you can pick from a choice of words to best describe your CU’s financial status. Alice Smith, Communications Director, Delaware League |
|---|
Message from ______ Federal Credit Union President - ______ Is Healthy
As you watch or read the financial news of the past few days, it would be understandable to question the soundness of all financial institutions. As previous credit union communications have stated, the financial news from _________ is very positive. While some other institutions are being severely tested, ________ is reporting (“good,” “excellent,” “record”) earnings and core financial strength. Our financials reflect this good news. (We post our financial statements each month.)
Our credit union’s largest holdings are in loans to members like you. Nearly __________ in assets is in consumer loans to members. I'm proud to report that our members continue to repay their loans at record rates in spite of a challenging economy. The quality of a consumer loan portfolio like _______ is largely measured by its overall delinquency. With only _____% of our loans in delinquency, that means that _____% of all loans are sound. Thanks to all of our members for honoring their borrowing agreements with us.
As a federally insured credit union, ___________ is restricted to federally insured or backed investments. Federally backed securities are considered the most secure of all investments. Our federal insurance is provided by the National Credit Union Administration (NCUA) and is equal in every respect to the federal deposit insurance provided to banks. Every member is insured up to $100,000 of deposits held with __________. Retirement accounts like IRAs are separately insured up to $250,000.
To learn more about the soundness of the NCUA, go to http://webapps.ncua.gov/ins.
Finally, we recently completed our federal examination and again received the (“good,” “excellent”) ratings from our regulators. The National Credit Union Administration monitors our operations on an ongoing basis and conduct intense reviews of our operations each year. This is in addition to our annual CPA audit and internal audit reviews.
This is certainly a challenging time and is likely to get more challenging in the months ahead. The good news for out credit union members is that we remain strong and very capable of navigating these difficult waters.
Sincerely,
President