A Message from Diann Owen-Gaines, President/CEO Clackamas Federal Credit Union

With the current media coverage on troubled banks, you may be wondering if your accounts are secure at the credit union. The answer is, yes!

Your member–owned credit union is capitalized well above the regulatory guideline. We are examined for safety and soundness annually by the National Credit Union Association (NCUA). In our recent exam of March 2008, we were given high marks in all areas reviewed.

Not only is our credit union sound and stable, every credit union in Oregon is federally insured by a fund that is backed by the full faith and credit of the U.S. government. The National Credit Union Share Insurance Fund (NCUSIF) insures accounts to at least $100,000 per account (with additional coverage of up to $250,000 for certain retirement accounts), just as the FDIC does for banks.

The NCUSIF is administered by the National Credit Union Administration (NCUA), an agency of the federal government. For more information on federal share insurance, see the NCUA brochure “Your Insured Funds,” available at the following link:

http://www.ncua.gov/Publications/brochures/insured_funds/funds.pdf