|
With so much attention today on the problems caused by the “sub-prime”
mortgage situation in the U.S., we wanted to take this opportunity to
let you know Travis Credit Union remains financially sound, and that
member assets are safe and secure. In keeping with our mission to
build lifelong relationships with our members, we have always been very
conservative in our approach to real estate loans. This means we have
never funded sub-prime loans because of the risk. Currently, only 30% of
our loan portfolio is in real estate and the majority is at a fixed
rate. So we continue to have money to lend to meet the real estate and
consumer lending needs of members with solid credit.
You can rest assured knowing Travis Credit Union, with assets of $1.6
billion, is considered well-capitalized by the National Credit Union
Administration (NCUA), and has reserves in excess of what is required by
federal regulators. In addition, our last independent audit indicated we
are well managed and financially sound.
Members of the Credit Union’s volunteer Board of Directors have been
careful stewards of your assets to ensure they are safe even under the
most challenging economic conditions.
If you have any questions about your Travis Credit Union account or
our products or services, please call our member service center at (707)
449-4000 or (800) 877-8328. |
