Remember Preferred Federal Does Not have an Application Fee! *apr= annual percentage rate; Certain restrictions may apply
FYI...
As a result of the new legislative Acts & Regulations, our statement backer needed to be changed. The biggest difference you will see is that we have added a change of address form and the verbiage font has increased in size. As a result, the Statement Reconciliation portion has been removed. We now have the Share Draft Reconciliation Form available to you at either branch location or you are able to download it here on our website. Please contact our member service representatives with any question or concerns you may have by calling 754-7192 or by e-mail at info@preferredfcu.com
The Hidden Key is somewhere within our website!
You and 4 other lucky members will have a chance in winning a $20- VISA Gift Card!
While browsing our website, when you find the Hidden Key, click on it to be entered in the monthly drawing.
Click on the key above for Official Rules and Eligibility.
Office Hours:
Monday, Tuesday, Thursday: 8:30 am - 4:30 pm lobby 8:30 am - 5:30 pm drive thru
Wednesday: 9:30 am - 4:30 pm lobby 9:30 am - 5:30 pm drive thru
Friday: 8:30 am - 5:30 pm lobby (effective August 7, 2009) 7:00 am - 7:00 pm drive thru
Preferred earns 5 Consecutive 5 Star ratings for Financial Excellence from Bauer Financial!
A Message from the CEO: With everyone's concerns about the current economic state, I wanted to take a moment of your time and make you aware of Preferred Federal Credit Union's safety & soundness.
Our assets are federally insured by the National Credit Union Administration (NCUA) the strongest federal insurance agency in the country. The NCUA Insurance Call Center, operating from 8a.m. to 6:30p.m. (EDT) Monday through Friday, has insurance experts available to answer questions about coverage provided by NCUA share insurance. The toll-free Insurance Call Center number is 1-800-755-1030 extension 1.
Not one penny of insured savings has ever been lost by a member of a federally insured credit union
Credit Unions, including Preferred Federal Credit Union, focus on members, not profits. We remain a safe haven in this economic storm.
Credit Unions lend responsibly - we have a more conservative approach to lending and most credit unions hold onto about 70% of their mortgages instead of selling them to Fannie Mae & Freddie Mac. Preferred Federal Credit Union has never sold our mortgages portfolio.
As member-owned cooperatives, Credit Union balance sheets are not affected by the whims of the stock market.
Preferred Federal Credit Union has nearly $40M in assets, with Capital/Equity at $4,306,757.00. This equates to a Capital/Equity ratio of close to 11%, well above the 7% which our regulator defines as "well capitalized". Preferred Federal Credit Union has sound business practices, more than adequate insurance on your accounts, and is ready to serve your financial needs.
Preferred Federal Credit Union has earned 5 consecutive 5-star ratings by BAUER FINANCIAL Inc., the nation's leading independent Credit Union rating and research firm! The 5 star rating is based on the financial condition of the Credit Union and indicates that Preferred Federal Credit Union is one of the strongest financial institutions in the country.
While other lenders are tightening restrictions and cutting back on lending - we are continuing to offer loans and are increasing our marketing efforts to get the word out to our members that we are here to help!
And on a final note, Credit Unions are here to stay. Please note that Preferred Federal Credit Union celebrated our 54th anniversary on December 7th. If you have any concerns please feel free to call us at 616-754-7192 and speak with a Member Service Representative or a Supervisor about your insured accounts.
Len Greenwood, CEO Preferred Federal Credit Union
To see a video from CNN-Money on why credit unions are a safe haven click here
