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Financial Environment - Safe and Secure
Your funds at the U of I Employees Credit Union are secure and strong.
As news reports tell of other financial institutions showing signs of distress, it’s important to know that the U of I Employees Credit Union remains safe, secure, and financially strong.
How financially stable is the U of I Employees Credit Union?
Our soundness is based on our exemplary business practices. We adhere to sound financial underwriting practices and provide members with professional guidance, which matches them with the right loan product
With the recent passage of the national Economic Rescue Package, the NCUA currently insures member share accounts up to $250,000 per member and an additional $250,000 per member for Individual Retirement Account monies. The NCUA is the most secure and strongest of the federal savings insuring agencies. Your funds at the credit union have never been more secure.
This recent increase, matches the insurance of deposits at banks throughout the nation in response to the current economic situation as a result of the collapse of the sub-prime lending market. It is important to note that the U of I Employees Credit Union does not, and has not, offered sub-prime loans, nor has the credit union engaged in other risky lending practices that have led to losses at many lenders. The U of I Employees Credit Union has not been directly impacted by the collapse of the sub-prime mortgage market.
We are examined by both federal and state regulators, and have repeatedly received high ratings for safety and soundness. The U of I Employees Credit Union does not offer sub-prime loans or engage in other risky loan practices that have led to losses at many lenders.
For 75 years, members have put their trust in the U of I Employees Credit Union. Surplus funds resulting from our sound lending practices are returned to members through higher dividends, reduced loan rates and service enhancements.
For additional financial information on the U of I Employees Credit Union, we invite you review our 2007 Annual Report.
Additional questions about NCUA insurance can be directed to the NCUA Insurance Call Center, operating from 8 am to 6:30 pm (EDT) Monday through Friday. The NCUA Insurance Call Center has insurance experts available to answer questions about the coverage provided by NCUA share insurance. The toll-free NCUA Insurance Call Center number is 1-800-755-1030, extension 1.
- Insurance estimator enables calculating an estimate of share insurance coverage
- Special Bulletin explains increased retirement account coverage in addition to basic insurance protection
- Brochures and examples
U of I Employees Credit Union
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Financial Report
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as of June 30, 2008*
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| Total Assets |
$174,140,166
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| Total Member Shares |
$151,718,066
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| Total Loans |
$121,471,652
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| Total Reserves |
$18,050,847
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*Information is updated quarterly.
State charter granted October 26, 1932.
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