Safe, Sound and Secure

no worry


Is Greylock Safe, Secure and Sound?YES, very secure. Here’s the proof:

1.Capital Reserve

  • 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.

 

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