Your Credit Union: A Safe Harbor
It’s unsettling to see major swings in the stock market, or to observe heated exchanges among political leaders about the best financial course for the country. Turmoil in the economy has many consumers feeling at sea. It’s understandable that you might be concerned or worried. Throw in the collapse of different banks over the last few weeks and the subsequent talks of a recession and many people think back to earlier this century.
You can be reassured on one point, and that’s the security and stability of your credit union and your accounts at Fort Financial. Fort Financial offers a safe place for credit union members to save money, has sound financial policies and receives high rankings from regulators for safe and sound practices.
Deposits (savings, checking, money markets, certificates, trusts, and retirement accounts) at federally insured credit unions like Fort Financial are protected by the National Credit Union Share Insurance Fund and insured up to at least $250,000 per individual depositor – the same as any other federally insured financial institution. That means backing by the full faith and credit of the U.S. government.
Credit union members have never lost a penny of insured savings at a federally insured credit union. Visit MyCreditUnion.gov for more information about the National Credit Union Share Insurance Fund coverage for consumers.
Our current level of capital continues to provide us adequate reserves to protect against most financial crisis while not being too large that it would restrict future growth. Credit unions provide financial benefits to members through lower loan rates, higher saving rate, and fewer fees than banking institutions. National studies show that credit union member households, on average, are about $225 a year ahead of other consumers.
If you’re concerned about your personal finances, a Fort Financial member service representative can help. Whether you’d like to review current loans to see about refinancing at better terms or find out about savings plans that will help you attain your goals, we’re here to help fortify your life. Stop by a branch, send us an email or give us a call at 260.432.1561 to learn more.
Our credit union—your credit union—is strong when our members are strong. Together, we can make port safely even when the economy is in rough seas.
We are proud that Fort Financial is here to serve our members and help them fortify their finances.
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