September 2008 President's Report

President's Desk
September 19, 2008

      A lot has happened since my last letter to our members, and not much of it has been good. Hurricane Ike devastated so many lives and so much property that it is even hard for us to imagine. Over two hundred credit unions were in the affected area. The problems faced by these financial institutions are enormous, but not nearly as big as the problems of a vast number of credit union employees who lost their homes completely. And yet, they came to work in great numbers, committed to making sure their members would not suffer further because of their inability to access their funds. Your credit union has made a large contribution to the Texas Credit Union Foundation in order to help these credit union employees who face unimaginable hurdles in their quest to reclaim their lives. In addition, Texas Federal Credit Union's employees have contributed to many relief agencies. Their generosity will be matched by your credit union. If you would like to help these credit union folks, you can @ cuaid.coop. We continue to keep the victims of Ike in our thoughts and our prayers.

      As if Ike wasn't enough, the financial marketplace is having major difficulties in spite of the reassurances of those in political and financial power. I ask you to please remember that Texas Federal Credit Union, YOUR credit union, has not been involved in ANY of the financial activities that have brought about this financial crisis. We have faith in our country and its economy. It will recover. It always has. However, during this time of struggle, PLEASE remember that your funds are safe and secure here at your credit union!

Best regards,

Sandy Smith, President/CEO