Breaking News: Proposed rules for credit cards will better protect consumers

Financial troubles aren't affecting Elevations CU

Credit crunch. Credit crisis. Sub-prime loan debacle. Record home foreclosures. These are just some of the recent news headlines. The latest news is about the mortgage companies Freddie Mac and Fannie Mae. These two companies don't originate mortgages but they buy mortgages from lenders and insure mortgages and are two of the biggest in the industry.

Should you be worried about Elevations CU? No. Elevations CU, like most credit unions, is not affected by these problems. Here's why:

We lend responsibly by following strict lending practices to make sure that a member receives the proper loan for their situation. Less than 1% of our loans are delinquent.
We have loan loss reserves well above the regulatory requirement.
Your savings are insured up to $100,000 by the National Credit Union Administration (NCUA). For some types of account or combination of accounts, coverage may be higher.

If you have any questions about your accounts or our financial stability, don't hesitate to contact us.

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