Dear valued members:
At Compass Community Credit Union, we have an unwavering commitment to our members that’s over 72 years strong. In times of uncertainty, our mission is to provide the individuals and families we serve with the stability they have come to expect.
Recent market events and, in particular, the collapse of Silicon Valley Bank (SVB) have raised concerns. On March 12th the Federal Reserve Board announced that it will make additional funding available to help assure eligible depository institutions have the ability to meet the needs of all their depositors. According to the Federal Reserve – “This action will bolster the capacity of the banking system to safeguard deposits and ensure the ongoing provision of money and credit to the economy. This news brings great relief to those who were impacted.
I would like to reiterate that Compass Community Credit Union has been supporting the people in our local communities since 1951. Our credit union is managed for the long-term by prioritizing sustainable practices. Compass Community Credit Union’s priority to build and nurture meaningful member relationships has led to a deep, committed member base. We continue to remain in a strong financial position.
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On behalf of my colleagues, I want to thank our members and communities for the trust and confidence you place in us. Inspired by our mission of “Making a difference in our community by providing solutions to achieve financial aspirations at any stage in life”, we are proud to continue providing you with the highest level of dedication, care, and support.
Ray Litchfield, President/CEO