Why You Should Feel Confident Banking
with Opportunities CU
Due to the recent events in the banking industry, we want to reassure our members that Opportunities Credit Union is not engaged in the riskier behaviors seen recently by some banks.
1. Many troubled bank depositors withdrew very large balances because they worried they would not be insured. OCU member balances average about $8,600 per member, and more than 97% of our member balances are fully insured by the NCUA.
2. Many troubled banks made unsecured business loans to the tech and crypto industries. Over 90% of our business loans are secured by Vermont real estate. In addition, we work with the VT Small Business Administration who guarantees a significant percentage of many of our loans.
3. Some troubled banks bought longer maturity bonds when rates were lower. Prices fell as rates rose, and they sold them before maturity at a loss. Opportunities has some investments in short-term, US-Government-guaranteed securities which will soon mature at 100% of their face value.
Opportunities has been around for 34 years. We have survived the Dot Com Bubble, the 9/11 Attack, the 2007-2008 Global Financial Crisis and the 2020 Pandemic. You can feel confident your credit union will survive these times as well.