Your credit union...safe and financially Sound
First Half 2008 — Financial
Highlights
Despite continuing news of economic difficulties in the banking industry,
the Baltimore County Employees Federal Credit Union is pleased to announce
the following Financial Highlights for the period ending June 30, 2008:
- Total member shares increased 10% to more than $235 million.
- Total dividends paid to members grew 18% over the same period one
year ago to more than $3 million.
- Total capital increased 3% to more than $25 million due
to positive net income every month.
- Total loan delinquency was three tenths of one percent (.3%) due
to sound underwriting practices.
 Overall Financial Health
Federal Credit Unions are regulated by the National
Credit Union Administration (NCUA). NCUA has consistently rated your
Credit Union to be “fundamentally
sound and capable of withstanding business fluctuations.” We continually
receive the highest rating for capitalization and asset quality.
Insured Funds
Deposits in the Credit Union are insured by the National Credit Union
Share Insurance Fund (NCUSIF), which is backed by the full faith and
credit of the United States Government. Your deposit insurance is similar
to the deposit insurance protection offered by the Federal Deposit Insurance
Corporation (FDIC). Booklets are available in our offices that explain
your insurance coverage.
Our Mission
For more than 45 years we have successfully cared
for our members’ financial
needs and look forward to the future as we strive to fulfill our mission:
Dedicated to improving the lives of our
member-owners
by providing quality financial products and services
while maintaining
the growth and stability of the Credit Union. |
