LHCU News - Interoffice Circulation and Bulletin Boards
March 31, 2018
The first quarter results met our expectations. Our reserve to assets ratio is now 14.7%, which is a new high. The Credit Union is not involved with the up and downs of the stock market. For the past 2 years we refrained from buying any government securities and invested our available funds in short term deposits. Currently we plan to “ride” the interest rate curve higher because we feel it is the most prudent thing to do at this time.
Experts predict that we will experience more rate hikes this year although modest ones. Any long term fixed rate investments might offer a higher coupon, but carry a substantial interest rate risk and possible price declines.
In March we undertook a membership drive at Lufthansa Technik in Tulsa, which was very well received. We would like to welcome our 30 new members to the credit union family!
With regards to our credit card program, we hardly have any delinquencies and would like to recognize our card-holders sense of responsibility. Looking forward to the rest of 2018, we believe our results will be equally rewarding.
On behalf of our Board of Directors, we enclose our quarterly financials and thank you for your loyalty and trust.