To Our Valued Members,
Throughout the weekend we’ve all been closely monitoring the volatile situations at a number of different banks throughout the country. Naturally, these events create more scrutiny and fear about the financial services marketplace and we realize you may have questions about the money you have deposited at your credit union.
The bottom line: YOUR MONEY IS SAFE.
As a federally insured state-charted credit union, we are regularly examined by both the Colorado Division of Regulatory Agencies (DORA) and the National Credit Union Administration (NCUA). Our most recent exam was in January of 2023 and rest assured your credit union is safe and sound. Credit Union of the Rockies far exceeds the financial standards that regulators require for a credit union to be considered well-capitalized.
Beyond the safety and soundness of the credit union, the National Credit Union Share Insurance Fund insures your money up to $250,000 per individual depositor. For more information, visit www.mycreditunion.gov/share-insurance.
Unlike the for-profit financial institutions that you are seeing in the news, Credit Union of the Rockies is a not-for-profit financial cooperative, owned by you and the other members using our products and services. Our cooperative structure inherently holds us accountable to you and the other members. We do not have “stockholders”; therefore, we do not engage in risky practices to meet stockholders’ profit demands.
Our portfolio is diverse, and not dependent on a sole product or industry. We live and work in the communities that we serve, taking local deposits and making local loans. We are here for Main Street, not Wall Street. Credit Union of the Rockies is healthy, strong, safe, local, and focused on building up the thriving communities that we are here to serve.
For almost 90 years, we have operated in the state of Colorado enriching the lives of members in the mountain communities that we serve and are well-positioned to continue to do so for our members and future-members. We continue to fund loans, process transactions, and fully serve the needs of our members every day. If you have friends or family that are over-leveraged in one financial institution, I strongly encourage them to become members of your credit union.
For nearly 15 years I’ve served this credit union and our membership, and that dedication to our members financial wellness is mirrored by our longtime staff that are here each and every day safeguarding your assets. Should you have any questions or concerns, please reach out to us and one of our dedicated personnel will be happy to talk with you about any of this in greater detail.
It’s our privilege to serve you.
Sincerely,
Peter Bullard
President/CEO