Suze Orman touts NCUA insured CU’s on OPRAH.COM

Hopewell Federal does participate in the National Credit Union Share Insurance Fund also known as as the NCUSIF. Suze recommends this as a safe way to save on Oprah.com.

http://www.oprah.com/slideshow/oprahshow/20080918_tows_suze/9

“Your Money Is As Safe and Sound, As Any Deposits in Federally Insured Banks at a Credit Union”

Folks,

I, like many Americans watched President Bush address the country last night on our economic crisis. And as you’ll see from the following article. I too, regretted the fact that he did not mention credit unions. President and CEO of the Credit Union National Association, Dan Mica, says it best, “It’s important for the millions of credit union members across the nation-with billions of dollars saved in their credit unions to know their money is as safe and sound as any deposits in federally insured banks.”

I like to watch what the media says about credit unions. The following is a story that hit the newswires today from Market Watch.com. Please take time to read it and educate yourself about NCUA insurance. Just like the FDIC it’s backed by the full faith and credit of the United States. Happy Reading. And special thanks to Dan Mica, for highlighting the strength and soundness of Credit Unions across America.

http://www.marketwatch.com/news/story/credit-unions-have-federal-savings/story.aspx?guid=%7BF46A3533-016F-47D0-B740-C96707C158A2%7D&dist=hppr

 

-Al

Time to Think of an Alternative Way to Bank

In the midst of all of this economic turmoil on Wall Street, Credit Unions are finally starting to come to the forefront as a safe, alternative way to bank. We’ve been keeping an eye on all the press we’ve found so that we can relay it to you.

Of course, I’ve already discussed my thoughts-but I also think it’s good to pass along the national accolades, so you understand that credit unions are a safe and sound choice to do your banking during these tough economic times. This particular news clip says we are “weathering the storm” it was featured on CNN, featuring an interview from an analyst from FORBES magazine.  Click on the link below for more.

http://media.vmsnews.com/MonitoringReports/091808/652294/N001521738/

 

-Al

Back Up and Running!

Hey folks-

It’s Monday…September 22, 2008 and I am very excited to announce that just before noon today, we got our power back fully at our Heath Office. Now both locations are open and ready to serve you!

 

Thanks again for your patience over the past week.

Outtage Update

Good afternoon,

The last few days have really put the financial markets in turmoil.  And Hurricane Ike has taken a toll on many businesses and families.  In Licking County, we felt the high winds of Ike, but not the rain that accompanied it in Texas.  If you live here, you know that many businesses and homes have been without power since late Sunday afternoon and thousands still are. 

Here at Hopewell Federal we have limited power at the main office in Heath but full power and full operations at our Newark branch.  Since we have limited power in Heath, our office is closed to members until power is restored.  My office has no lights working but my computer connection is fine.  Thankfully, I have four large windows so I can see and continue to work.  That’s not true for most of our main office.  We have three phase electric in this building and are only operating on one phase.   Since there is limited power, none of our air conditioners are working and it got up to 86 in my office, by late Tuesday afternoon. As I write this, it is a warm 82. 

Like most without power, we have called AEP to report the outage but have been told that if we are the only one on the line it could be early next week before we are back in operation.  The turmoil in the financial markets has had no effect on us- only the storm that blew through here.

We do have phone service and are fielding calls. We have sent extra employees to the Newark branch to help out there.  I can tell you … this is the busiest the branch has been since we opened it in March of 2007.  Many members have visited that branch for the first time this week.  We’re proud of the modern look and feel of the branch and are glad more of our members are getting to experience it for themselves. 

Getting back to the turmoil in the financial markets, Hopewell Federal is in no way involved in the practices that caused serious problems for the big banks and investment banks.  Our mission is to help members get ahead financially by delivering personalized banking products that members need.  Being a financial cooperative, we only serve members and are not charged with the task of earning gigantic profits for stockholders.  The greed that has brought some of the big banks down does not apply to Hopewell Federal Credit Union.

Your deposits at your credit union are federally insured by the full faith and credit of the United States Government up to $100,000 per member plus and additional $250,000 for IRA deposits per member.  Hopewell Federal also purchases excess share insurance from ESI a private insurance company.  The excess share insurance provides for an additional $250,000 coverage per member for deposit accounts and an additional $250,000 in coverage for IRA accounts.  As an individual you can have insured deposits at Hopewell Federal up to $850,000 of which $350,000 would be federally insured between regular deposits and IRA deposits. 

So as you can see, your deposits in Hopewell Federal Credit Union are safe and secure.  And ESI is not involved in the types of coverage’s that is causing problems for AIG which has recently been rescued by the Federal Reserve. 

If you have questions about our safety and soundness or deposit insurance coverage, write me directly. I’d love to hear from you

Al    

Riding Out the Storm

Good afternoon folks,

I’d like to take this opportunity to say thank you for your patience as we ride out the after effects of Hurricane Ike. As most of you know, the 75 mph winds that ravaged Licking County on Sunday, took their toll on our Heath Office.

Our new North 21st Street branch was not interrupted by the storm. It’s fully functional, operating as usual. This is a really great time to check out our new location if you haven’t yet.  Our Heath office however, only has partial power in part of the building. We, like you, are anxious to get things back  up and running again, but are at the mercy of the widespread outages all over the county that are being fixed.

Our Heath ATM is working and of course, you can do your banking on-line 24 hours a day, check your balance and more with our MAGIC phone line and do shared branching at any of the local credit unions in our area.

Again, I apologize for the inconvenience. Our staff is still here in Heath, working diligently  by make- shift lighting in some parts of the building, to make sure that all systems behind the scenes are working as usual. It’s actually amazing to see the kind of ingenuity some of the staff has come up with to find sources of power to work from.

You can still do your business as usual at our North 21st Street office and there are plenty of people manning the phones to take your calls and take care of your business.

So, at this point in time, I would just like to say thank you for your patience. As soon as power returns we will inform you-but rest assured, we are working hard to continue to serve you during this time.

Thanks again,

Al

JOIN US FOR COMMUNITY DAY

Saturday, Sept. 13th

9 a.m. to Noon

Heath Office, Hopewell Drive.

Meet Kirby Kangaroo

FREE FOOD, Get Registered for PRIZES and MORE!