We've all been hearing the latest news about the Federal guarantee of Fannie Mae and Freddie Mac, the two mammoth government-sponsored mortgage companies, the closure of IndyMac Bank by the federal regulator and now with Washington Mutual (WM) sold off to J.P. Morgan Chase (JPM), "the credit crisis claimed yet another victim".

In light of this recent news, we wanted to provide you with information about the safety and soundness of DPS Federal Credit Union, how your funds are insured and where you can go to get additional information.

DPSFCU will continue to act responsibly on our members' behalf and provide a stable place for your deposits with a good rate of return for you.

Q. Are my deposits safe at the credit union?

A. All credit unions adhere to state or federal licensing and regulations and operate in a safe and sound manner with their members' best interest in mind. On average, credit unions have higher reserves than banks, so they are more financially sound. Credit unions are also member owned so they are not pressured into earning high profits for stockholders.

In addition to strong regulatory guidelines, member deposits are insured. The National Credit Union Share Insurance Fund (NCUSIF) is the federal fund created by Congress in 1970 to insure member's deposits in credit unions up to the $250,000 federal limit (effective October 3, 2008). Coverage may exceed $250,000 depending on the structure and type of account. Administered by the National Credit Union Administration, the NCUSIF is backed by the full faith and credit of the U.S. Government. The NCUSIF is in strong financial condition, with an equity ratio estimated at 1.24 percent for June 30, projected by year end to be 1.28 percent.

Q. What is the impact of the housing market on DPS FCU?

A. DPS FCU is not involved in investing in mortgage loans or Mortgage Backed Securities and for the past 50 years has followed conservative lending policies approved by the Board of Directors for all loans. These actions have increased our financial soundness.

DPS FCU's overall delinquency is lower than national averages. As of June 2008, nationwide credit union loan delinquencies remain low at 1.36% and DPS FCU's is even lower at 0.42%.

Still have questions? Please ask. "You can count on us" is more than a slogan, it's words you can live by.

Additional Information

The NCUSIF is administered by the National Credit Union Administration (NCUA), an agency of the federal government. To determine insurance coverage, see the NCUA's insurance estimator at: webapps.ncua.gov/ins

For more information on federal share insurance, contact NCUA's Consumer Assistance Center between 8 a.m. and 6 p.m. (EDT) at 1-800-755-1030, press 1 for share insurance questions; or see the NCUA brochure "Your Insured Funds," by clicking here.

DPS FCU Financial Information

To view our latest published financial statements please click on the hyperlink below:


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