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SAN JOSE, CA, May 29, 2014 /24-7PressRelease/ -- Many people may not be aware that their deposits (up to $250,000) are just as safe in credit unions as in a big bank. This is because the federal insurance fund for credit unions--National Credit Union Share Insurance Fund (NCUSIF) provides the same insurance protection that the Federal Deposit Insurance Corporation (FDIC) extends to big banks.
Credit unions offer a number of advantages such as lower loan rates, generally higher returns on savings and often lower fees. Credit unions also enjoy an excellent reputation for providing friendly, personal service to members, because as cooperatives, credit unions are owned by their members, which makes every member essentially a shareholder.
UNCLE Credit Union, which stands for UNiversity of California Livermore Employees, is a financial institution with over $285 million in assets, originally founded in 1957 to serve the employees of the Radiation Laboratory in Livermore, California. Membership eligibility was later expanded to include anyone who works, studies or worships in the counties of Alameda, Contra Costa, San Joaquin and Stanislaus.
The credit union now boasts more than 21,000 members and is well-known in the local Tri-Valley area of Northern California's East Bay for its long-standing commitment to supporting the communities in which it serves.
Over the last three years, UNCLE has focused on increasing its level of full-service convenience by offering members online services such as mobile banking and edeposit, access to over 30,000 free ATMS and 5,000 shared branching locations nationwide through the CO-OP Network, as well as expanding into mortgage loan origination and launching a new Investment Services division.
"At UNCLE Credit Union, we know that safety and soundness are vitally important, so we're proud of earning a five-star rating (the highest awarded) from one of this country's largest bank and credit union rating agencies, Bauer Financial", says Kathy Litman, UNCLE's Vice-President of Marketing. "This demonstrates that UNCLE is a financially healthy, strong and well-managed financial institution where members know their money is safe. We are also proud of our long and enduring legacy as a credit union in the Tri-Valley area, and are committed to providing residents here with a superior alternative to a bank--and best of all, we're local!"
If you would like to find out more about home loans, auto loans or personal finance, UNCLE Credit Union can help. They have the knowledge, experience and financial expertise to help you achieve your financial goals. Learn more at www.unclecu.org.
About UNCLE Credit Union:
Founded in 1957, UNCLE Credit Union is a financial cooperative that offers a wide variety of banking services to its members - who are also considered co-owners. Their core mission is to help members achieve financial success for themselves and their families.
To learn more, please visit www.unclecu.org.
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