Monday, July 14, 2008

Team One Remains a Safe & Secure Place for Your Money

The news is full of recent reports about the troubles and government bailouts of banks like IndyMac Bancorp (IMB), and mortgage companies such as Fannie Mae (FNM) and Freddie Mac (FRE) because of their investments in sub-prime* loans. Rest assured that Team One does not invest in sub-prime loans.

For over 70 years, Team One has remained a strong and sound fixture in the communities that we serve. Credit Unions' Savings Accounts are insured by the National Credit Union Association and backed by the full faith and credit of the United States Government and have never lost their Members' deposits. We strive to offer the most competitive rates and quality service so that our members can feel secure in bringing their financial needs to us. Team One is all about Banking…Only Better!

*Sub-prime lending is the practice of making loans to borrowers who do not qualify for the best market interest rates because of their deficient credit history. Sub-prime lending is risky for both lenders and borrowers due to the combination of high interest rates, poor credit history, and adverse financial situations usually associated with sub-prime applicants.