Your Finances Are Secure at Affinity Plus.
Affinity Plus ensures that your funds are safe, sound, and secure. We will always do what is right for our members and during any times of crisis in the economy, we will continue to operate as we always have as a credit union cooperative.
How Does Affinity Plus Invest Your Money?
When you deposit money into Affinity Plus, 90% of the deposits are invested back to other members of Affinity Plus in the form of loans. When funds are available beyond the member demand for loans, we invest in overnight accounts to fund our daily operations, which is the safest government insured treasury and agency securities. We will never compromise the safety and security of your money by investing in corporate bonds or the stock market and we are not exposed to the recent and well-publicized issues with Freddie Mac, Fannie Mae, Lehman Brothers, or AIG. Our current investments are extremely conservative and short-term in nature.
Is the small amount of money Affinity Plus invests outside of the organization insured?
No, but it is very conservatively invested.
Are we invested in organizations such as Fannie Mae, Freddie Mac, or IAG?
No.
How is my money sitting from the liquidity standpoint given the current status of the economy (October 2008)?
Our liquidity position is currently strong and we do not foresee any concerns in the future on behalf of our members.
How does what’s going on right now in the financial services industry impact the pricing and services you offer at Affinity Plus?
The current issues in the financial services industry have not had an impact on our pricing and services offerings and we do not foresee any impacts in the future. We promise that we will never change our focus from our members – we will continue to do what is right for our members, always. We will continue to loan money to our members and we will not “tighten” our underwriting standards.