The P.A.

A weekly address from Patrick Adams,
President of St. Louis Community Credit Union

Your Money Is Safe At The Credit Union

On March 31st, 2008, posted in: Uncategorized by

Granted, it’s an ugly time for the economy. Rocky times tend to make folks a little nervous as it relates to their financial institution. “Is my money safe?” is a question that gets more utterances these days than in the past. Well, members should know that their money is very safe with St. Louis Community Credit Union. All of the members’ money is federally insured through the NCUA. We even have additional private deposit insurance for accounts that exceed the federal government’s maximum of $100,000 per account.

In addition, we have never invested heavily in mortgage-related loans. We help our members with the purchase of their dream home all the time, but we do not involve the Credit Union in speculative housing developments or commercial loans to the home-building industry. Second, St. Louis Community avoids sub-prime mortgage lending. Our loans are conservative in nature with strong loan-to-value ratios, shorter terms and acceptable credit risk. Lastly, we don’t invest members’ deposits in “exotic,” “get-rich-quick” investments. We are conservative and conscientious in our investment strategy.

St. Louis Community is not a commercial bank or a Wall Street investment bank. We are a credit union. A credit union that only exists to make our members’ lives better. For that reason, we keep our eye on you and your well-being – not the fastest way to make a buck.

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