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Important Message About the Financial Soundness of your Credit Union

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In light of recent financial industry news, we thought you might have some questions or concerns regarding how Florida Commerce federally insures your money. Florida Commerce is a very strong Credit Union, one of the strongest financial institutions in the area, with capital and reserves of over $40,000,000. Because of our high capital levels, Federal Regulators classify Florida Commerce as a Well-Capitalized Credit Union.

In light of recent financial industry news, we thought you might have some questions or concerns regarding how Florida Commerce federally insures your money. Here are some quick points of reference:

  • As the NCUA brochure in our lobbies makes clear, the shares in Florida Commerce Credit Union are insured by the National Credit Union Share Insurance Fund (NCUSIF), where not one penny of insured savings has ever been lost by a member of a federally insured credit union. This fund is backed by the full faith and credit of the United States Government. Established by Congress in 1970 to insure member share accounts at federally insured credit unions, the NCUSIF is managed by NCUA under the direction of the three-person NCUA Board. You may read about the details in the lobby brochure "Your Insured Funds".
  • Each Florida Commerce share account is federally insured up to at least $100,000 by the NCUSIF. Traditional and Roth IRAs and KEOGH retirement accounts are insured up to $250,000 by the NCUSIF. A NCUA Share Insurance Estimator is also available for your convenience.
  • In April, Florida Commerce mailed copies of our 2007 Annual Report to members detailing Florida Commerce Credit Union's financial landscape. Feel free to pick up another copy of the Annual Report at any of our seven locations.

We hope these resources serve to refresh your memory and we also wanted to remind you that Florida Commerce's reserve account holds more than double the established standard for safety and soundness. We hope this information reassures you that even in rough economic times, you can feel confident entrusting us to safeguard your hard-earned savings.

Should you have questions or concerns please feel free to call us directly at 488-0035 or visit any of our seven convenient locations .