WALL, N.J. - Many Credit Unions, like First Financial Federal Credit Union, are not affected by the economic crisis our country currently faces.
First Financial did not engage in the subprime mortgage lending or in any risky investments during the last several years. As a result, this financial institution is able to fund requests for cash withdrawals and/or help with mortgage and lending needs. Even during this uncertain time, they are continuously providing competitive rates on both deposits and loan products.
“Despite what’s happening to the large banks, we remain a secure financial institution,”
Member deposits are federally insured through the National Credit Union Share Insurance Fund (NCUSIF) and backed by the full faith and credit of the U.S. Federal Government.
On October 3, 2008, the NCUSIF announced the increase in deposit coverage to $250,000. The NCUSIF is currently funded at $1.27 for every $1.00 that it insures. Not one penny of insured savings was ever lost by a member of a federally insured Credit Union.
First Financial Federal Credit Union is a community based Credit Union serving anyone who lives, works, worships or attends school in Monmouth and Ocean Counties.
For more information about First Financial, call 866-750-0100 or log onto firstffcu.com. Also to learn more about the NCUSIF insurance coverage, log onto ncua.gov.
