Fox: Secure! Strong!
At Fox, we have steered clear of the whole sub-prime mess. We never got involved with high-risk, undocumented sub-prime loans; neither making them nor investing in those types of securities.
Fox operates conservatively and our balance sheet is very healthy and strong – high levels of capital and high performing loans to our members. Virtually all of our member deposits are invested in high quality loans to members – not in volatile securities or Wall Street.
As more doom and gloom comes out of Wall Street, our members can feel confident and secure with their Credit Union. In fact, our deposits are growing at a brisk pace this year due to the safety that the Credit Union provides. Along with our financial strength, deposits are federally insured, backed by the full faith and credit of the U.S. government, up to at least $250,000 per account plus an added $250,000 per IRA. To determine insurance coverage, see the NCUA’s insurance estimator at: http://webapps.ncua.gov/ins
Fox Communities Credit Union is member-owned and a not-for-profit cooperative. We exist to serve our members. We provide an excellent return on our member's deposits with typically higher rates paid than banks, lower fees and lower loan rates. And with economic times like this, we don’t have stockholders who encourage us to take excessive risk with people’s money that so often lead to the types of problems that Wall Street is now facing.
Fox has a very strong balance sheet and is well-positioned to weather these troubling economic times.
Greg A. Hilbert, President/CEO – past 28 yrs.
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Fox Communities Credit Union
Financials: August 31, 2008
Assets $686,213,175 9.6% Annualized Growth
Capital $68,115,343 9.93% High Capital Ratio to Assets
YTD Net Inc $3,331,430
