To Our Valued Members,
Lately, the news has shared stories about banks closing in the US. The two banks that have been in the news recently catered to customers that were involved in the latest technology and trends, industries that are highly volatile. Those banks closing is not so startling when you understand what a volatile industry they were enormously associated with and invested in.
At The County Federal Credit Union, we do not cater to highly volatile industries like Silicon Valley Bank did. We utilize a well-balanced, well-diversified approach to the members we serve as well as to the investments that we make. By taking this approach, The County Federal Credit Union provides safety and soundness on all fronts, regardless of what transpires in the market. This, among other things, is what contributes to our success and stability.
As you know, members’ credit union deposits are federally insured up to $250,000 by the National Credit Union Administration (NCUA), which keeps your money safe. All Maine credit unions are regularly examined by auditors to ensure proper management and maintain your money’s safety and security.
The County Federal Credit Union is considered by our regulators to be a “Well Capitalized Credit Union,” the highest capital classification that NCUA assigns. Our liquidity and earnings are also both considered to be among some of the best. In the credit union industry, when the economy tightens, those three things are looked at and scrutinized very heavily and we are in great shape and very strong on all three fronts. You can count on The County to continue to serve you as it has for the last 67 years.
Thank you for your membership and your contributions to your community!
Your partner for financial success,
President & CEO