The
Current Financial Industry and What it Means to You
During
these times of economic uncertainty, it is good to know that financially
strong credit unions continue to serve such an important role for the
people, as they have for many decades. We are 72 years strong because
of you.
All credit
unions have deposit insurance and there has never been a penny lost on
those insured funds that credit unions carry here in Indiana. Deposit
insurance coverage for Hometown FCU is with the NCUA. More and more members
are using the safe and secure alternative of our IRA’s in lieu of
the stock market. With IRA’s you r insured funds increase dramatically.
The cooperative
structure and “people helping people” business philosophy
of credit unions is the reason that we are trusted more and have been
cited by leaders of Congress as a bright spot in the midst of the cloudy
picture in other areas of the financial industry.
The most
important distinction for consumers to understand, especially at this
time when people are wondering who they can trust the most, is that credit
unions are member-owned, not-for-profit cooperatives where the entire
focus is on providing the best possible value and service to the consumers
they serve.
A contributing
factor to the current problems in the financial industry has been the
risky and reckless pursuit of earnings by some for-profit financial service
providers. Unlike banks, credit unions do not have a separate group of
stockholders for which they need to generate profits. Because of our member-owned,
not-for-profit, cooperative structure, there is no incentive for credit
unions to take the kinds of risks that some stockholder-owned for-profit
financial service providers take in hopes of higher returns for their
stockholders. The individuals elected by the credit unions membership
to their Boards, serve as volunteers focusing on what is best for the
members here who use our services.
Instead
of profiting stockholder’s we are here to profit you! Our Statement
to you has been and remains to be:
“
A member-owned "Hometown" organization meeting your financial
needs.”
Click
Here to watch a short video about federal insurance for your savings at
Hometown FCU
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!!!NEW!!!
Your
Hometown FCU wants to serve your every need. Before you sign those papers
at the car dealership, check with us first. Our rates are very competitive
and we can usually match their rates. As a matter of fact, check with
us whenever you are looking for a loan. We will do our best to work
with your needs. 
