Evansville Federal Credit Union remains secure
Recent news reports have been focusing on economic woes, including recent bank failures. Because of those reports, we want to assure our membership that Evansville Federal Credit Union is financially strong and looking forward to continued growth and future opportunities.
Evansville Federal Credit Union remains a safe place to keep your hard-earned money. Capital, the money set aside in case of difficult times, is our safety net during turbulent financial markets. EFCU's capital is over nine percent of our assets. Our capital, in addition to solid business decisions and an ever growing membership keeps EFCU strong in challenging times.
Safeguarding your funds is very important to Evansville Federal Credit Union. Federally chartered credit unions have federal share insurance through the National Credit Union Administration (NCUA), a government agency. The passage of the Emergency Economic Stabilization Act of 2008 will require the National Credit Union Administration (NCUA) to immediately increase share insurance protection to $250,000 on all types of accounts until Dec. 31, 2009. For more information on share insurance, click here.
Because of these uncertain times in sectors of our industry, we want to be sure that our members are aware of the strength of the credit union and the safety of your funds. We encourage anyone who has questions about the strength of Evansville Federal Credit Union to contact us. We will be happy to answer any questions you have.