Ohio University Credit Union

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Ohio University Credit Union
90 South Shafer Street
Athens, OH 45701
Phone: (740)597-2800
Toll Free: (800)562-8420
Fax: (740)597-2846
Email: cbayes@oucu.org

In these times of economic uncertainty and unsteady financial markets, I wanted to assure you that your credit union is safe, sound and secure. OUCU has always taken a conservative approach; we’ve never engaged in risky subprime lending or depository practices.

Your credit union is well-capitalized with a net worth of 10.43%; well above the 7% considered to be well-capitalized by the National Credit Union administration. Capital provides the cushion to weather economic down turns, as well as future expansion of products and services. Our capital at the end of 2008 was in excess of $22 million.

While your credit union managed to weather the turmoil experienced in the economy in 2008, we have definitely felt the impact. Early in 2009 actions taken by the National Credit Union Administration, our regulator, required us along with all federally-insured credit unions to pay a substantial premium to replenish the dwindling share insurance fund. Our desire to fully disclose this expense to the membership at the earliest possible date was the driving factor in posting this substantial expense in 2008.