As the 1st quarter of 2018 comes to a close, I wanted to share some great things happening here at OCCU. YOU talked and WE listened! After almost 10 years of a declining CD rate market, OCCU decided it was time to reward our loyal members and demonstrate our financial strength by offering some of the highest CD rates currently in the marketplace.
Many times when a financial institution raises CD rates it is for “new money” only. We did not think this was an opportune strategy as it essentially penalizes you, our loyal members, for money you have kept on deposit at OCCU throughout the recent recession. Do we want to attract new money? Of course we do! However, we also want to THANK YOU, our existing members. OCCU’s financial strength is because of our loyal members. When you have a chance, please check out our new rates. We think you will find them as exciting as we do!
Continuing on the subject of financial strength, DepositAccounts.com, an independent, unbiased organization who for more than 10 years has provided oversight and health ratings of over 11,000 banks and credit unions they cover in the United States. They consider many factors including capitalization, deposits and loan to reserves ratios. DepositAccounts.com contacted OCCU today:
“Congratulations OCCU for being named to the 2018 Deposit Accounts Top 200 list of theHealthiest Credit Unions in the United States. OCCU achieved an incredible A+ health ratingin the 2018 Deposit Accounts health study, making OCCU one of the healthiest NCUAinsured Credit Unions in the United States.”
Did you know,OCCU is the HIGHEST RANKING WASHINGTON Credit Union on the list, ranking 25th nationally? That’s quite an achievement and we are extremely proud.
Again, sincere thanks goes to YOU, our members; OCCU is here because of you! We know each one of you has options and can pick from any number of financial institutions, in-person, on line or a phone call away. Each month we find that 40% to 60% of our new members join because of word of mouth. There is no better time than the present to share the OCCU story. We have been COMMUNITY STRONG since 1941, and continue to grow and strengthen our core values so you – our member – will continue to receive the best we have to offer.
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