For our members during these challenging times—
I wanted to give you a status on your Credit Union, the strength of our capital position, and steps we are taking to support members.
The bottom line is that we remain very strong financially.
Your one billion dollar strong Credit Union is constantly monitoring risk. In fact, even during these turbulent times, we are financially strong. And, rest assured that your funds are federally insured by the National Credit Union Administration (NCUA) for up to $250,000 per member.
Our financially robust position not only ensures your funds’ safety – but also that we can leverage this strength for the benefit of our members. We will keep our deposit and loan rates competitive across the board. Members might see other institutions slash deposit rates in the months ahead to prop up their bottom line. Or see them tighten credit and limit their willingness to make loans. But, we are committed to maintaining our competitive deposit rates for the foreseeable future; and not tightening up our underwriting on new loan applications.
If you are looking for some loan relief – we have a number of resources at your disposal to help. Please call us, chat with us online or go to figfcu.org/member-services. We will handle each request personally, on a case-by-case basis, and will do everything we can to help you during these turbulent times. Because that’s what family does…help each other in times of need. Our commitment to our members has never been stronger.
We take great pride in our financial position, and we will be leveraging this to the fullest extent to support you during these uncertain times.
Thank you for being a member of our Credit Union family.
Harland Bengs
CFO
