With everyone's concerns about the current economic state, I wanted to take a moment of your time and make you aware of Preferred Federal Credit Union's safety & soundness.
Our assets are federally insured by the National Credit Union Administration (NCUA) the strongest federal insurance agency in the country. The NCUA Insurance Call Center, operating from 8a.m. to 6:30p.m. (EDT) Monday through Friday, has insurance experts available to answer questions about coverage provided by NCUA share insurance. The toll-free Insurance Call Center number is 1-/800-755-1030 extension 1.
Not one penny of insured savings has ever been lost by a member of a federally insured credit union
Credit Unions, including Preferred Federal Credit Union, focus on members, not profits. We remain a safe haven in this economic storm.
Credit Unions lend responsibly - we have a more conservative approach to lending and most credit unions hold onto about 70% of their mortgages instead of selling them to Fannie Mae & Freddie Mac. Preferred Federal Credit Union has never sold our mortgages portfolio.
As member-owned cooperatives, Credit Union balance sheets are not affected by the whims of the stock market.
Preferred Federal Credit Union has nearly $40M in assets, with Capital/Equity at $4,306,757.00. This equates to a Capital/Equity ratio of close to 11%, well above the 7% which our regulator defines as "well capitalized". Preferred Federal Credit Union has sound business practices, more than adequate insurance on your accounts, and is ready to serve your financial needs.
Preferred Federal Credit Union has earned 5 consecutive 5-star ratings by BAUER FINANCIAL Inc., the nation's leading independent Credit Union rating and research firm! The 5 star rating is based on the financial condition of the Credit Union and indicates that Preferred Federal Credit Union is one of the strongest financial institutions in the country.
While other lenders are tightening restrictions and cutting back on lending - we are continuing to offer loans and are increasing our marketing efforts to get the word out to our members that we are here to help!
And on a final note, Credit Unions are here to stay. Please note that Preferred Federal Credit Union will celebrate our 54th anniversary on December 7th.
If you have any concerns please feel free to call us at 616-754-7192 and speak with a Member Service Representative or a Supervisor about your insured accounts.
Len Greenwood, CEO Preferred Federal Credit Union
To see a video from CNN-Money on why credit unions are a safe haven click here.
Trust. Commitment. Honesty.
Whether you are buying or building a new home, refinancing, or seeking information about reverse mortgage, Preferred Federal Credit Union's Mortgage Center is here to guide and councel you about whatmortgage makes the most financial sense.
Holiday Closings:
Thursday November 27 - Thanksgiving
Wednesday December 24 - Christmas Eve (open unitl 1:00pm)
Thursday December 25 - Christmas Day
Wednesday December 31 - New Years Eve (open until 1:00pm)
Thursday January 1, 2009 - New Years Day
Office Hours:
Monday, Tuesday, Thursday: 8:30 am - 4:30 pm lobby 8:30 am - 5:30 pm drive thru
Wednesday: 9:30 am - 4:30 pm lobby 9:30 am - 5:30 pm drive thru
Friday: 7:00 am - 7:00 pm both lobby & drive thru
(616) 754-7192
Routing Number: 272481114
"Fall" Into a Low Rate With Our Unsecured Loan Special! 2.99% apr borrowing $1000 for 12 months
3.49% apr borrowing $1500 for 15 months
3.99% apr borrowing $2000 for 18 months Preferred can help you every step of the way with debt consolidation, a home improvement project, a family vacation or whatever you prefer. AlwaysNo Application Fee! *apr= annual percentage rate certain restrictions may apply
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Current Market Summary
PREFERRED earns 5 Consecutive 5 Star ratings for Financial Excellence from Bauer Financial!
