Two large bank failures in the past week have resulted in significant media coverage calling into question the entire banking system. East Texas Professional Credit Union adheres to its strict investment policy for asset liability management which has led to consistent, strong financial performance for decades. While additional bank failures might be reported in the media, rest assured your credit union is financially strong with conservative management principles that avoid the egregious mistakes made by much larger financial institutions. The following facts speak to the strength of East Texas Professional Credit Union:
- There are currently 9662 rated banks & credit unions in the United States
- Of those 9662 financial institutions, (F.I.’s), only 63; 25 banks and 38 credit unions, share the honor & distinction of holding the highest Weiss Rating of A+ Excellent. https://weissratings.com
- A+ Excellent rated financial institutions are defined by Weiss Ratings as: An institution offering excellent financial security. These financial institutions have maintained a conservative stance in their business operations and underwriting practices as evidenced by a strong equity base, high asset quality, steady earnings, and high liquidity.
- East Texas Professional Credit Union (ETPCU) is proud to be among this select group of 63, A+ rated financial institutions, and has held this distinction for more than a decade.
- ETPCU enjoys a 10 out of 10 score on Capitalization, Asset Quality, and overall Stability.
- Federal regulators have determined that a 7.0% capital to asset ratio is the benchmark for a well-capitalized financial institution. ETPCU’s current capital to asset ratio is more than 17.0%, or almost two and a half times the amount necessary to be classified as well-capitalized.
Through the Great Recession and the past decade, East Texas Professional Credit Union has been a safe harbor for your hard-earned deposits. The Board of Directors and management team will continue to manage your credit union with the conservative principles that have led to the Credit Union being recognized nationally for its financial stability and consistent strong performance.