Last year was a scary time for us all and tested our resolve like few others. We wish all of it were a distant memory.
Unfortunately, many hurdles remain before we heal as a country–both health-wise economically and socially–but with the election over, vaccines showing promise, and the prospect of additional economic stimulus, there are signs of progress and cause for cautious optimism. Whatever the economic or political climate, your Credit Union will continue to support all members in need with financial assistance, made possible by our excellent financial position.
Late in 2019 while COVID was emerging, we became a billion dollar organization. This growth has given us the financial muscle to funnel significant funds to members and help them navigate on certain times with more confidence. This support includes relief loans, loan payment deferrals, lower loan rates, high return savings, and more.
And even while other financial institutions have cut back on loans and made qualification more difficult–which we have not–we are cutting something else, our rates. Auto, home equity lines of credit, and RV are just a few recent rate reductions part of our capacity to offer this high level of value and support is our ability to trim non-essential costs and use these savings to support members in need.
Driving this has been innovation and the way we do business, helping our staff work smarter and more effectively. As the new year unfolds, keep an eye out for new member benefits. I won’t spoil the surprises, but I think you’ll like what we have in store. And, if we’ve been able to help you navigate difficult times, why not share the gift of credit union membership this year with others who could benefit.
We’ve extended membership eligibility to include family, employees, friends, neighbors, and Farmers policyholders. You can also get nice referral bonuses for sharing your Credit Union relationship with others. As a country, we are not out of the woods yet and need to be especially vigilant from a health and a financial perspective.
Being a member of Farmers Insurance Federal Credit Union should provide you with some comfort and added peace of mind knowing that we are here to advise and support you in any way we can. We are a simple phone call, click, or chat away. I wish you a safe, happy, and peaceful new year.
Thank you for being a member of our Credit Union family.