Strong, Secure and Sound
Credit Unions are healthy and operating well capitalized. With sound lending procedures and policies, delinquencies are very minimal. The Lassen County Federal Credit Union does not underwrite First Deeds of Trust. And although it may have seemed to be the road less traveled, avoiding the sub prime highway appears to have kept us out of the wreckage. With our current 2,466 consumer loans totaling $30,645,024.85, we currently have 4 delinquent loans totaling $31,058.98. We loan our "members" money to the people who matter the most; our "members." Therefore being "member" owned, our existence is to serve you and not to profit from you. We want what is best for our members.
You might ask, "What about savings?" Well we believe you won’t find a safer place for your hard earned money. With the increasing concerns for the economic future, we find more and more members are looking for a stable yet profitable place to keep investments. Lassen County Federal Credit Union typically offers a higher savings rate, and we are federally insured. As the FDIC does for banks, savings in every federally insured credit union are backed by the National Credit Union Share Insurance Fund (NCUSIF), a fund maintained by the US Treasury. The NCUSIF is administered by the National Credit Union Administration, an agency of the federal government, which insures your savings up to at least $250,000. Federal insurance protects your money at your credit union in share savings, share draft/checking, money market, share certificate, trust fund, and retirement accounts. Funds in a federally insured credit union can be insured to a level much higher than $250,000 depending on how you establish your accounts. For instance jointly owned accounts and accounts with named beneficiaries are separately insured up to $250,000 and individual retirement accounts are separately insured up $250,000. The government stands behind the NCUSIF by "the full faith and credit" of the US Treasury and assures you will be federally insured. Since the inception of NCUSIF in 1970, not a single dollar has ever been lost by a member of a federally insured credit union. And your credit union is regularly examined and audited by federal and/or state regulators to make sure it engages in safe and sound operations.
Have peace of mind in knowing that your credit union is now and will continue to be Strong, Secure and Sound.