Earn More at Your Credit Union

Dear UECU Member,

Utilities Employees Credit Union has one overriding objective – to thoroughly serve its members’ financial needs. That means providing not only superior, friendly service every time you contact us, but also the absolutely best savings yields and loan rates possible. It’s not an accident that your Credit Union is consistently a national leader in savings yields. Paying high savings rates is our top priority and we accomplish this feat by keeping UECU’s operating expenses at less than half those of its peers.

The U.S. economy is obviously in the midst of a very low rate environment. As bond market yields dropped, banks were quick to take advantage of the opportunity to rapidly reduce the rates they paid on deposits. Bank customers have therefore been receiving rather pitiful returns for several years. On the other hand, because UECU is member-owned, we sustained our high savings yields as long as possible and have paid far more than our competitors throughout the interest rate cycle. In fact, we still pay our members well over $1 million of interest on their savings accounts every month.

As declining market yields trimmed earnings on the Credit Union’s loan and investment portfolios, however, we have been forced to gradually lower members’ savings rates. But even after several reductions, our members are earning about four times the national average return on regular savings accounts and 11/2 to three times the national average on money market accounts.

We’re careful how we invest your funds, in order to assure that UECU remains a financially safe and sound institution. And on top of the security provided by a strong balance sheet, your savings are federally insured up to $250,000 per account. So rest easy, knowing that your savings are secure at the Credit Union and that you’re earning some of the best yields available

Best wishes,

Glen A. Yeager President/CEO