A Message from the CEO

• Not one penny of insured savings has ever been lost by a member of a federally insured credit union.

• Credit Unions, including Essex County Teachers Federal Credit Union, focus on members, not profits. We remain a safe haven in this economic storm.

• Credit Unions lend responsibly. We have a conservative approach to lending.

• As member-owned cooperatives, Credit Union balance sheets are not affected by the whims of the stock market.

• Essex County Teachers Federal Credit Union has a capital ratio of 9.5%, which is well above the 7% level at which our regulator considers a credit union well capitalized.

• Essex County Teachers Federal Credit Union has sound business practices, more than adequate insurance on your accounts, and is ready to serve your financial needs.

• While other lenders are tightening restrictions and cutting back on lending, we are continuing to offer loans and are increasing our marketing efforts to get the word out to our members that we are here to help!

• Credit unions are here to stay. Essex County Teachers Federal Credit Union is beginning its 80th year of serving our member-owners.

If you have any concerns please feel free to call us at 973-748-8847 and speak with one of our highly skilled Member Service Representatives about your insured accounts.

Robert D. Steeves, C.C.U.E.
Chief Executive Officer
Essex County Teachers Federal Credit Union

To see a CNN-Video with Forbes Magazine explaining the safety and benefits of credit unions click here.

To hear our radio announcement on the safety and soundness of credit unions click here.

Visit the Frequently Asked Questions on Insurance Coverage from our regulator, the National Credit Union Administration.

For more informtion about the safety of credit unions, please read the Credit Union National Association's article.

You can contact Bob Steeves at info@ectcu.org.

January 1, 2015

Now that the outlook for the national economy has brightened, I wanted to make you aware of Essex County Teachers Federal Credit Union’s safety and soundness.

• Our assets are federally insured by the National Credit Union Share Insurance Fund (NCUSIF). Administered by the National Credit Union Administration, a U. S. Government Agency, it is the strongest federal insurance agency in the country. With the passage of the Emergency Economic Stabilization Act of 2008 your funds held in a single accountare now insured for up to $250,000. Joint account relationships can be covered up to $1,000,000. You can obtain additional coverage by naming “Payable On Death” Beneficiaries for your accounts.