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Is Greylock Safe, Secure and Sound?
YES, very secure. Here’s the proof:
1. Capital Reserve
• The strength of a financial institution is measured by its capital ratio.
• NCUA regulators consider anything over 6% as a well-capitalized institution.
• Greylock’s capital ratio is 8.57% which equates to reserves of $87 million.
2. Loan Loss Reserves
• Greylock continues to have steady loan growth and we maintain a focused
approach to placing money in our loan loss reserve account to cover loans that are charged off.
• Greylock has over $7 million in this loan reserve account.
3. Efficiency Ratio
• This efficiency ratio measures how efficiently your credit union operates.
• The lower the number, the better.
• Greylock’s operating efficiency ratio continues to remain lower than our peers in the marketplace.
Are my accounts insured?
• Yes, through NCUA they are insured up to $100,000 and IRAs are covered up
to $250,000.
• There are ways of structuring your accounts to give you more coverage.
• Branch managers deal with this often and are a good resource for members.
Is there anything to worry about? No!
• Greylock has a strong local financial management team with many years of
experience in the industry.
• Greylock does not participate in any sub-prime mortgage lending.
• Greylock lends money to people we know, in a manner they can understand
and afford.
Greylock’s financial strength means your accounts are safe, sound and secure.
Click here for a copy of our annual report.
For more information, please contact us at (800) 207-5555 or send us an email.
Personal or confidential information should not be sent via email as this information is not transmitted through a secure link.
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