YOUR
MONEY IS SAFE WITH APL FEDERAL CREDIT UNION October 2008
Has the subprime mortgage crisis affected
APL Federal Credit Union?
No. Unlike many financial institutions,
APL FCU is not exposed to risky, subprime mortgages.
We have maintained diligent underwriting standards
and have not written, nor will we write, any subprime
mortgages. In its 54-year history, the credit union
has never lost a single penny from a 1st mortgage loan.
Is the credit union in good financial shape? Yes.
Our net worth as a percentage of total assets is the
highest it has ever been. And we continue to post strong
revenues month after month, year after year.
Will APL Federal Credit Union start raising fees like
so many banks have done?
No. At APL FCU, we pride ourselves on having some of
the lowest fees in town. In fact, most of the credit
union’s fees have remained unchanged for almost
20 years. Unlike many big banks, we don’t need
to generate exorbitant fee income to offset millions
in subprime mortgage losses.
Is APL Federal Credit Union prepared to handle a sustained,
economic downturn?
Yes. We have the highest accumulation of capital in
the credit union’s history, while continuing
to offer great value to our members in the form of
low fees and competitive rates. We also have one of
the lowest delinquent loan percentages of any financial
institution in our region.
Is my money safe with APL Federal Credit Union?
Deposits
with APL Federal Credit Union are backed by the full
faith and credit of the U.S. Government. Your money
is federally insured to at least $250,000 through the
National
Credit Union Share Insurance Fund (NCUSIF),
which is managed by the National Credit Union Administration
(NCUA). In addition, individual retirement accounts
(IRAs) are insured up to an additional $250,000. Not
one penny of insured savings has ever been lost by
a member of a federally insured credit union.
How safe
are my deposits over $250,000?
APL FCU member deposits are invested back into our
membership in the form of loans. Our loan portfolio
is a solid mix of traditional equity products, vehicle
loans and personal/credit card loans. Excess funds
that are not part of our loan portfolio are only
invested in Government Backed Securities. Because
these investments are backed by the federal government
itself, they are considered to have maximum safety
characteristics.
Overall, credit unions are weathering
these shaky times better than most financial institutions.
Credit unions
are member-owned, and as a result they're generally
more conservative with their investments than banks.
With no stockholders to demand quarterly profits, it's
easier for credit unions to steer clear of risky loans
like subprime mortgages.
INVEST
SAFELY AND WITH PEACE OF MIND AT APL FEDERAL
CREDIT UNION.
WE'RE HERE TODAY, HERE TOMORROW.
