SWOFCU and the Economy
A Message from the CEO
We at Southwest Oklahoma Federal Credit Union understand your concerns about the current state of our nation’s economy. Please allow me to take a few minutes of your time to assure you that your credit union is safe and sound and is continuing to do business in our community and surrounding area in a safe and sound manner. Likewise, I want to assure our account holders that your deposits are safe and that your institution is not experiencing the same perils that have caused the demise of some institutions around our country.
Allow me to point out just a few of the strengths and advantages that Southwest Oklahoma Federal Credit Union has to offer.
Our deposits are federally insured by the National Credit Union Administration (NCUA) which is one of the strongest federal agencies in the country.
Southwest Oklahoma Federal Credit Union and credit unions around the country continue to focus on our member’s well-being. We remain a safe haven in this economic storm.
Southwest Oklahoma Federal Credit Union lends money responsibly. We have a very balanced approach to lending and, where we aggressively promote credit as a tool of sound financial management, we never promote carelessness. While other lenders are tightening the approval process and cutting back on lending, Southwest Oklahoma Federal Credit Union is continuing to offer loans of all types and we continue our efforts to get the word out to our members and prospective members that we are here to help!
Southwest Oklahoma Federal Credit Union has about $74 million in assets with capital of about $6,200,000. This gives us a capital ratio of over 8 percent which is well within the range that our regulator defines as “well capitalized.” Southwest Oklahoma Federal Credit Union continues to operate under sound business practices and we are ready to serve your financial needs.
And on a final note, in this year of 2008, Southwest Oklahoma Federal Credit Union is celebrating our 50th year of serving the residents of Lawton and the surrounding area. We invite you to celebrate with us!
Please feel free to call us at (580)353-0490 or 1(866)353-0490 and speak with any of our Member Service Representatives about your insured accounts.
