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As you hear about one financial disaster after another, you probably can’t help but wonder about LFCU's condition and the safety of your money. Here are five facts you should know:
- LFCU remains one of the strongest financial institutions in the country. Our net worth (or capital) is 14.3% of assets -- more than double the amount regulators consider "well-capitalized." Click here to compare LFCU's capital, ROA and loan losses to the banks.
- For 55 consecutive quarters, LFCU has earned the highest rating possible for financial strength from BauerFinancial. Take a look at how our 5-Star rating compares to the big banks.
- Your money is federally insured to at least $250,000 per individual vesting (and another $250,000 for IRAs). Click here to learn how to structure your accounts to secure coverage to $2 million or more.
- Low delinquency. The total delinquency in our loan portfolio is only 1.33% of balances. In fact, as of 4/09, only 100 of more than 12,000 residential mortgages and home equity loans on our books are delinquent.
- LFCU generates positive earnings year after year. In fact, we have never reported a loss in our 72-year history. LFCU's annualized Return on Assets of 0.46% (annualized net income divided by average assets) is substantially higher than the bank average.
Your Credit Union continues to be well-positioned to withstand virtually any economic turmoil. If you have any questions, please call (800) 328-LFCU.
More information:
- How safe is your money? Compare bank ratings
- Take a look at LFCU's key financial ratios
- Protect your accounts with federal deposit coverage up to $2 million
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