IMPORTANT information regarding the NCUA Corporate Stabilizatoin Program
Click link for U$X Federal Credit Union response to NCUA action
SECURITY IN CHALLENGING TIMES
We live in challenging times. Looking at the world around us, one sees gas prices that have been as high as $4 per gallon, rising food prices, renewed interest in conservation, and the challenges that companies and their employees face as they attempt to thrive and grow. There is no doubt about it; these are unsettling times for our members!
The latest news regarding financial markets, Fannie Mae and Freddie Mac, the two mammoth government sponsored mortgage companies who own or guarantee $5.2 trillion in U.S. home mortgages and news stories about troubled financial institutions is disturbing.
In light of this recent news and the current market economy, we thought you might have some questions regarding how U$X Federal Credit Union's insurance works. Here are some quick points we thought you may find interesting:
- The shares in U$X Federal Credit Union are insured by the National Credit Union Share Insurance Fund (NCUSIF), where not one penny of insured savings has ever been lost by a member of a federally insured credit union. This fund is backed by the full faith and credit of the United States Government. Members may read the details in NCUA brochure “Your Federal Share Insurance” in any U$ X Federal Credit Union lobby or click on the link provided to visit the NCUA website.
- Each U$X Federal Credit Union share account is federally insured to at least $250,000 by the NCUSIF.
- Traditional and Roth IRAs retirement accounts are insured up to $250,000 by the NCUSIF.
- In addition to the Federal Insurance, U$X Federal Credit Union has a strong and healthy capital position. Your credit union's capital position is at more than two times the federally required level, which adds another layer of safety and security for its members.
- Copies of U$X Federal Credit Union's 2007 Annual Report are available. Members may wish to read through the annual report which highlights the Credit Union's safety and soundness.
Sometimes there may be a need for change, but there are times when relying on that which is tried and true is better. U$X Federal Credit Union has consistently encouraged members to make good decisions for themselves, to plan for the future, and to take advantage of the financial tools and services we offer. Our Board of Directors has consistently made prudent decisions to promote the benefits of membership and grow the credit union in a financially sound manner.
For over 70 years members have confidently conducted their financial affairs with U$X Federal Credit Union. When U$X Federal Credit Union serves a member, we are building financial success for the member, their family, and their community. We look forward to making a difference, one member at a time.
To become a member or learn more about the safe, secure and money saving products and services offered by YOUR credit union, please visit our website at www.usxfcu.org or call one of our member service representatives for assistance at
1-888-219-3159.
