No. Your deposits here at your credit union are as safe and secure today as they have always been and we are making loans to members as usual. Progressions Credit Union, like most US credit unions, has not been experiencing the issues that are causing problems for some of the nations other financial industries and here's why:

• Credit unions are member owned and not for profit. We don't take big risks to make more money to pay to a handful of stockholders. We take conservative risks and return earnings to our member owners through additional products, convenience, better rates and fees, and exceptional service.
• Funds come from our members in the form of deposits, not third party investors. Deposits are primarily used to make loans to members with any remaining funds invested in amounts that are fully insured at US financial institutions or government agency investments. We are not allowed to invest in the stock or any other speculative financial markets.   
• Not one penny of insured savings has ever been lost by a member of any federally insured credit union.
• Neither the US government, nor any  tax paying citizen of the US has ever had to bail out even one credit union. The same cannot be said for other financial industries.  
• Although the credit union concept first came to the US in 1909, it's growth spurt in America really began between 1925-1935 during the Great Depression so average Americans could get the loans they needed and find a safe haven for their savings following the failure of other financial industries.

Progressions Credit Union specifically:

• Financial Stability: Progressions Credit Union is financially strong with a capital to asset ratio of 7.70%. Our delinquency ratio on member loans is below both state and national credit union peer group averages.
• Members Deposits: Are federally insured to at least $250,000 by the NCUA. Click on the links below to read more about NCUA deposit coverage. 64% of our members deposits are invested in loans to other members. We do not have high risk or complicated investments on our books. 
• Mortgage Loans: All mortgage loans held on our books are made to our members who live in Washington State and Northern Idaho only. First mortgage loans of $100,000 or more are written to secondary market standards, which includes income verification, property appraisal, qualifying repayment ratios, and a maximum 80% loan to value ratio. 29% of our total loan portfolio is in first mortgage loans. Home Equity Line of Credit and 2nd mortgage loans total 10% of our total loan portfolio. Our delinquency rate on loans secured by real estate is 0.004%.
• Other Loans: Other loans made to members include 46% of our total loan portfolio secured by new and used vehicles, boats, and shares with the remaining 15% in unsecured credit lines. We do not make commercial or business loans as defined by regulation or make any other type of high risk loans. 
• Questions?: Contact Mari Zumbiel President & CEO at mariz@progressionscu.org.

Ratios as of 12/31/2011.    

Spread the word. If you have friends or family in these uncertain times looking for a safe haven for their savings or a great place to get a loan at a great rate, we'd love to have them join our family! E mail this article to them, have them visit us at www.progressionscu.org, call us at 509-535-0191 or toll free at 800-828-8691, or visit us at one of our two locations to open an account today!