We're celebrating a special day, and you're part of it. Join us October 16 to celebrate International Credit Union Day with this year's theme "My Credit Union: It Belongs to Me." International Credit Union Day celebrates the history, tradition, and spirit of the international credit union movement—and those who own it. 
We want to take this opportunity to thank you for being an important part of Kaskaskia Valley Community Credit Union.  It's members like you who help to make up this truly special organization—not shareholders or other motives. You own your credit union, and we are here to serve you.
Credit unions exist to provide a safe, convenient place for members to save money and to get loans at reasonable rates—credit union members save $240* a year per household. Take full advantage of your credit union membership. Meet your borrowing and savings needs with our member friendly, low-priced services.                                                                                            Continued on Page 2

My Credit Union: It Belongs to Me

Credit Unions a Safe Harbor for 2.7 Million IL Consumers

While some segments of the financial industry are experiencing economic difficulties, IL credit unions remain safe and sound institutions for the more than 2.7 million consumers who keep their money there.

A credit union is a not-for-profit financial cooperative that is owned by the members it serves.  There are about 8,500 credit unions nationwide, counting more than 90 million consumers as members, and collectively holding about $800 billion in assets.  In IL, there are more than 430 credit unions that hold $20.8 billion in assets.

Member deposits in federal and almost all state chartered credit unions are federally insured by the National Credit Union Administration (NCUA) through the National Credit Union Share Insurance Fund (NCUSIF).  NCUSIF is backed by the full-faith and credit of the United States government. Consumers who have federally insured funds in credit unions should rest assured that their deposits are safe up to at least $100,000 per account, with additional coverage of up to $250,000 for certain retirement accounts.

According to the NCUA, the NCUSIF is in strong condition, with an equity ratio estimated at 1.24 percent for June 30, projected by year-end to be 1.28%.  Data from the NCUA also shows that IL credit unions are well capitalized with an overall capital-to-asset ratio of 11.2 %—that’s a capital cushion of 3.12 billion.

In addition, data compiled by the Credit Union National Association (CUNA), the nation’s largest advocacy group for credit unions, shows that local consumers, at a time when they are concerned about their economic futures, trust credit unions to be a “safe harbor” in which to put their money. That’s because savings at credit unions in IL have grown by more than six percent (in the 12 months ending 3/2008).

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