Safe, Sound and Secure
Is Greylock Safe, Secure and Sound?YES, very secure. Here’s the proof:
- The strength of a financial institution is measured by its capital ratio.
- NCUA regulators consider anything over 7% as a well capitalized institution.
- Greylock’s capital ratio is 8.19% which equates to reserves of $90 million.
2.Loan Loss Reserves
- Greylock continues to have steady loan growth and we maintain a focused approach to placing money in our loan loss reserve account to cover loans that are charged off.
- Greylock has nearly $8 million in this loan reserve account.
3.Are my accounts insured?
- Yes, the Emergency Economic Stabilization Act of 2008, signed into law on October 3, 2008, increased the insurance coverage on all accounts up to $250,000 through December 31, 2009.
- There are ways of structuring your accounts to give you more coverage.
- Branch managers deal with this often and are a good resource for members. They’d be happy to meet with you.
4.Is there anything to worry about? No! Not at Greylock.
- Greylock has a strong local financial management team with many years of experience in the industry.
- Greylock does not participate in any sub-prime mortgage lending.
- Greylock lends money to people we know, in a manner they can understand and afford.
Greylock’s financial strength means your accounts are safe, sound and secure.
For more information, please contact us at (800) 207-5555 or send us an email.