Credit Union is Safe, Sound and Secure
There are many reports in the news recently about the fallout
from sub prime mortgage loans, the credit crunch and the
resulting impact on individuals, financial institutions and our
economy. Some members have asked how these challenges
affect Diamond Valley Federal Credit Union. We would like to
reassure our members that we remain financially solid.
Diamond Valley continues to grow, adding to our financial
stability. Members continue to rely on us more than ever for a
safe place to invest their money. And you can feel secure that
your deposits are safe because they are insured by the National
Credit Union Share Insurance Fund (NCUSIF) through the
National Credit Union Administration (NCUA).
As of October 3, 2008 your shares are now combined and
insured up to $250,000, and IRAs are separately insured up to
$250,000. Also, there are ways to obtain additional coverage.
We encourage you to use the NCUA Share Insurance Estimator
at www.ncua.gov to determine your coverage.
Diamond Valley Federal Credit Union is well positioned to
deal with any economic effects. Thanks to the quality of our
membership, strong member participation, solid capital position
and sound business decisions, such as not engaging in risk-prone
sub prime lending, we remain financially solid and committed
to providing you with the highest quality service.
For every one of our members, please take confidence in the
fact that you have a safe and sound financial partner in Diamond
Valley Federal Credit Union. Regardless of the economic
climate, we will remain a solid financial resource. Please feel
free to contact a Financial Services Representative at (812)
425-5152 if you have any questions regarding this matter.
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