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Financial Troubles aren't Affecting Educators

Finacial_PlanningFinancial Troubles aren't Affecting Educators

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Financial troubles aren't affecting Educators

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 Educators? No. Educators, like most credit unions, is not affected by these problems. Here's why:

  • We lend responsibly by following lending practices to make sure that a member receives the proper loan for their situation. Less than 1% of our loans are delinquent.
  • We did not participate in any sub-prime lending.
  • 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 accounts 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.