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cPort Is Financially Strong
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Message from cPort's CEO
On October 3, 2008, the Emergency Economic Stabilization Act of 2008 was approved. Among other initiatives, this immediately increased deposit insurance provided by the NCUA from $100,000 to $250,000. What this means for you is that your money is safe, and your deposits will continue to be federally-insured, through the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF is administered by the National Credit Union Administration (NCUA), a US Government Agency.
Simply put, your deposit dollars are safe; credit remains available and accessible; and our credit union remains sound and positioned for growth. Indeed, we are actively seeking new lending and deposit opportunities while continuing to serve the needs of our existing members.
It is important to us that you know we are financially strong and your deposits are secure even in times of economic media scrutiny. Our confidence in all that our institution has to offer you will remain constant and paramount.
If you would like to learn more about deposit insurance coverage for credit union members, I encourage you to visit the NCUA web site: http://www.ncua.gov/shareinsurance/index.htm
- Gene Ardito President/CEO
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