a note from our CEO - your credit union is strong! deposits are welcome here.
a letter from our President and CEO, Steve Cobb
To our Members,
The recent news of potential bank failures due to investment in high-risk start-up technology companies is a great reminder why banking with BlueOx Credit Union, and credit unions in general, is the safest place to do your banking. In our 87 years of business to our local Michigan communities we have weathered every economic storm along the way.
We were born out of the great depression in 1936. BlueOx has served the state of Michigan and our owner members as their trusted fiduciary for the entirety of our existence. Credit Unions are owned by you, the member, not stockholders and are run by a volunteer board of directors who cares about our Michigan communities. Our credit union started with school employees passing a cigar box to collect donations to lend to fellow employees, with interest, to fund the dreams of their future. Our business today is really no different. Our assets are our members that take out high performing loans for automobiles, homes, small businesses, and other needs. Our members are individuals and small businesses in our community with Midwest ethics and values of hard work, perseverance and strength. That is what BlueOx has always represented.
Not one penny of insured savings has ever been lost by a member of a federally insured credit union. We offer a safe place to save your money, with deposits insured by the NCUA up to $250,000 per individual depositor. If you have more than $250,000 at any single credit union, several options are available for additional share insurance coverage. Any federally uninsured deposits are backed by our credit unions financial strength. Unnecessary risk taking and extraordinary profit seeking is not part of the mission, vision, and core values of BlueOx Credit Union. We adhere to the credit union philosophy of not for profit, not for charity, but for service. Our commitment to our Members today is the same as it was 87 years ago-to be the faithful stewards of your hard-earned money.
Now is the time, if you are uncertain about your money at a bank to invest into your neighborhood, your community, your BlueOx Credit Union!
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