Important Notice to HTFFFCU Members
In light of the recent uncertainties in the financial markets, highlighted by the FDIC take over of Indymac bank in California, many of Houston Texas Fire Fighters Federal Credit Union members have called concerned about the safety of their funds. The Board of Directors wants to assure all of the members that their funds are safe and secure.
The Credit Union has not participated in any of the questionable financial dealings that are reported in the media and has consistently operated under conservative management to ensure safety and soundness. The Credit Union does not offer sub prime mortgages and has maintained strict mortgage standards. Based upon the Credit Union’s lending guidelines plus the stable Texas housing market the credit union maintains a sound mortgage portfolio.
The Credit Union is regulated by the National Credit Union Administration (NCUA), an agency of the federal government, and member deposits are insured by the National Credit Union Share Insurance Fund (NCUSIF). As the FDIC does for banks, the NCUSIF insures a member’s savings up to at least $100,000 with higher total coverage available if the member has a combination of individual, joint, trust, and other types of accounts. The Credit Union received NCUA’s highest rating for safety and soundness during the most recent examination.
The Board of Director’s would like to emphasize that your credit union and member deposits are safe and sound. If you have any questions or concerns please feel free to call the credit union at 713-864-0959.
What is Share Insurance Coverage?
It is important to know that NCUA-insured shares (including HTFFFCU) are backed by the full faith and credit of the United States Government. NCUA protects members against losses should a federally insured credit union fail. No member has ever lost insured funds.
Helpful Resources on NCUA:
For further information on Share Insurance, please visit NCUA's website by clicking here.
