President & CEO Comments – Fall 2008

It's difficult to miss the news lately about the difficulties that many large financial institutions are having. With that news may come questions about the safety of your money, and how your financial institution is doing. The anwers are encouraging for members at Share Advantage Credit Union.

Up to $250,000 of your deposits at SACU are federally insured by the National Credit Union Administration, a U.S. government agency. As a result, NCUA auditors monitor the financial health of all federally-insured credit unions. Share Advantage Credit Union has historically received a superior rating. Bauer Financial, an independent firm that rates the performance of U.S banks and credit unions, list Share Advantage Credit Union in its Recommended Credit Union Report. The credit unions in this report have been deemed to be safe, finanncially sound, and operating well above their regulatory capital requirements.

As a not-for-profit financial institution, SACU focuses on providing excellent member service while passing on the profits of the credit union to our members. Because of this cooperative philosophy, we've been able to continue to provide a full menu of finacial products and services at competitive prices and still remain financially solvent. In fact - thanks to all of you - our credit union has grown this year. Because you continue to use SACU for your finanical needs, our credit union's future looks bright.

As a member you can continue to help us grow by using our services.  We are here to serve our members and their financial needs.  Tell your friends and neighbors, and those co-workers, who have accounts elsewhere, about the benefits of membership in your credit union.  Tell them that at Share Advantage Credit Union “relationships are built one member at a time with Service, Integrity and Trust.” Thank you for your business.

Knut F. R. Hovde
President & Chief Executive Officer