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The last few weeks have been a roller coaster for financial markets and I know that many of our members have questions and concerns about how this affects the credit union. No matter what may happen in Washington, I want to assure you that Community First Credit Union of Florida is safe, secure and sound, and so are your deposits.
All deposits at Community First are federally insured up to $250,000 through the NCUA. Investments and retirement accounts have coverage up to $250,000. No credit union member, anywhere in the country, has ever lost a penny in a federally-insured credit union account.
Community First is in a sound financial position. We have enough cash on hand and capitalization to exceed NCUA requirements. As a locally-based, not-for-profit credit union, we act as stewards for the more than 102,000 members who place their trust and their money with us. We reinvest funds directly into our community in the form of home, business and auto loans. We make these loans to your neighbors, your teachers, and the local business down the street. Community First is invested in the First Coast and we pledge to continue to work with our members through these difficult times.
If you have a special circumstance, or your needs are changing, I encourage you to talk with our Member Service Representative. Your credit union is committed to working with you to identify resources and solutions when financial challenges arise.
John Hirabayashi
President and Chief Executive Officer
