As our
area and
the
country
deal
with
economic
headwinds
and
tightening
credit
markets,
we think
you
should
know
that MCT
remains
healthy
and
well-positioned
to serve
the
needs of
its
members.
And, the
NCUA –
the
federal
agency
which
insures
member
deposits
– is in
excellent
financial
health.
MCT
remains
healthy
due to
key
differences
in the
structure
of our
credit
union
versus
those of
banks.
As a
cooperative
financial
institution,
we don’t
rely on
the
capital
markets
for
funding.
We are
funded
through
member
deposits,
such as
yours.
Additionally,
MCT does
not make
high
risk
loans so
our
portfolio
is
strong,
despite
the
troubles
in the
larger
economy.
In
contrast
to many
banks
that are
tightening
their
criteria
for
loaning
money,
MCT has
the
funds to
lend to
our
membership
under
the
criteria
we have
used for
years.
MCT
entered
this
current
economic
downturn
with a
strong
balance
sheet,
and we
continue
to
remain
in
excellent
fiscal
health.
So relax
and rest
assured
that MCT
remains
strong,
healthy
and
capable
of
creating
the
financial
solutions
we have
offered
since
1960.
- MCT
Board of
Directors
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