As part of Dodge Central Credit Union’s continuing commitment to keeping members informed about their credit union and its service to members, I’d like to give you an update on a payment we will be making to ensure the federal credit union deposit insurance fund continues to offer the strongest possible peace of mind regarding your DCCU deposits.

The National Credit Union Administration (“NCUA”), the nation’s federal credit union regulator, recently announced an assessment to all federally insured credit unions for the purpose of maintaining the strength of the federal credit union share insurance fund. Our share is $295,406, which was recognized in our March 2009 financial statements.

We want to assure all members that this transaction does not affect individual members or employees and will not change the way in which DCCU is operated on your behalf. In fact, it represents less than 1% of total credit union reserves. Furthermore, it does not impact our ability to fund member loans, take member deposits, and deliver the exceptional member service you’ve come to expect from us.

This assessment is being shared by all federally insured credit unions to strengthen your federal deposit insurance fund given the current economic downturn in our country. Though Dodge Central Credit Union’s performance continues to be excellent, we are part of a national credit union industry and share with all other credit unions the responsibility for ensuring the safety and soundness of all member deposits in all credit unions.

As a reminder, member deposits in Dodge Central Credit Union are federally insured to at least $250,000 by the National Credit Union Administration. The federal deposit insurance limit was recently raised from $100,000, and offers the same federal deposit insurance coverage as that available through federally insured banks.

Finally, I want to assure you that your credit union’s financial performance continues to be excellent and we project above average earnings compared to other credit unions our size.

I encourage you to contact me by e-mail at bcampbell@dodgecentralcu.com if you have questions about this assessment. As always, we will act in the best interests of our members and employees, and will work hard to continue to provide the high-quality service that you are accustomed to receiving at our credit union.  Thank you for being a loyal member.