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.

 

 

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