On March 20, 2009, the National Credit Union Administration (NCUA), the federal regulator for federally-insured credit unions, placed two “corporate credit unions,” U.S. Central Federal Credit Union and Western Corporate (WesCorp) Federal Credit Union into conservatorship. “Corporate credit unions” are similar to Federal Reserve Banks and do not deal directly with consumers, but provide investment, financing, check clearing, and other services to “retail credit unions” (also called “natural person credit unions”) such as Bourns Employees Federal Credit Union (Bourns EFCU).

We wish to assure you that these actions by NCUA  do not affect your deposits at the Credit Union. In fact, NCUA’s actions to stabilize corporate credit unions were taken to assure the continued safety and soundness of local “retail” credit unions. You can rest assured that your funds on deposit are insured by the National Credit Union Share Insurance Fund (NCUSIF) and continue to be backed by the full faith and credit of the United States Government, up to at least $250,000. In addition, Individual Retirement Accounts (IRAs) are insured separately up to $250,000.

While “retail” credit unions have not been immune to the national economic downturn, we are well-capitalized overall, we are strong, and we are well-positioned to weather the storm. We thank you for your continued participation as a member-owner of your Credit Union.

Click here for the official press release from the NCUA about its recent actions. For more information about this action, please click here.

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Your Funds are Safe
 at Bourns EFCU!

Don't let the latest news about bank seizures put you in a panic. Your life savings are very safe at Bourns EFCU.

There are lots of reasons to feel secure about your relationship with the Credit Union. Click here for all the details.

New higher government savings insurance coverage applies to Bourns EFCU accounts, too!

The other great reason to save with us...great term certificate rates. Check it out here.

No Credit Crunch Here

If you are facing a payment reset on your home loan this coming year, please consider us for a fixed rate home loan or a more favorable adjustable rate loan.

Rates are still very low. Maybe a fixed rate option is available to you now that you’ve got some mortgage payment history under your belt.

Not yet in your own home? Lots of inventory puts you in the drivers seat. Get a great deal on a home, but come to us for the loan. Low up front fees minimize the cost of borrowing at Bourns EFCU. No broker fees, no lender fees. We just pass on third party costs to you - for title, flood, credit, appraisal, tax service and docs.

For more information, email, call toll free at 1-877-426-8767 x 2, locally at 951-781-5600, or fax 951-781-5452. Office hours: 9:00 AM PST to 4:30 PM PST, Monday - Friday.

Please note that your message will be sent via normal e-mail, and is not encrypted. Please do not include any sensitive information such as account numbers through email. This email should only be used for general questions or comments.