A Message from our President
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First of all, let me assure you that while the foundations of our economy have been severely shaken, we are conducting business as usual at Justice Federal Credit Union. Business as usual in this financial crisis? Yes. While you might ask how this can be possible, let me first assure you that we have never engaged in subprime lending or risky investing that are at the core of the financial debacle. Despite all the national headlines, media reports, and confusion about America’s current financial crisis, Justice Federal Credit Union is safe and sound. We continue to make responsible loans to members which represent the core of our financial strength.
After all, we are a member-owned financial cooperative and we have been making loans to members since 1935, and 2008 may well prove to be a record year of loan production. At Justice Federal Credit Union, we pride ourselves on providing exceptional value to our members each and every day. As a credit union, we’ve continued to grow and prosper all the while returning our profits to members through competitive loan and savings rates.
With the passage of the new bailout plan, members can now get deposit insurance up to $250,000 through the National Credit Union Share Insurance Fund (NCUSIF) which carries the full faith and guarantee of the United States Government. You may contact the NCUA Consumer Assistance Center toll-free at 1.800.755.1030 for questions you may have or visit their official website for information: www.ncua.gov.
While America’s financial crisis may unfortunately continue to unfold, let me assure that we will continue to do what we have always done--which is to serve our members to the best of our ability.
To provide you further assurance of our financial stability, our capital position of 9.48% is at near record high levels which federal regulators reserve for only “well-capitalized” financial institutions. For nearly 75 years, we have prudently engaged in sound financial management and I assure you that we will continue upholding this tradition.
If you would like to talk further about the strength of Justice Federal Credit Union, please feel free to contact any manager, or call me or any member of my senior management team, toll-free at 800.550.5328.
Thank you.
Peter J. Sainato, CPA
President and CEO
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