Wednesday, September 17, 2008

Team One is still a safe place for your money

You may have heard or read about the recent financial troubles of Lehman Brothers and Merrill Lynch. This is because of their investments in sub-prime loans*.

We want to once again reassure you that Team One remains a very safe place for your money.

Since 1935 when Team One first organized as Saginaw Teachers Club Credit Union, we have never lost any of our Members' deposits. We strive to offer the most competitive rates and quality service so that our members can feel secure bringing their financial needs to us. Your savings at Team One are insured by the National Credit Union Association, and backed by the full faith and credit of the United States Government.

*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.