A Letter to the Customers of Yakima Federal Savings and Loan Association
We’ve all been watching the news reports from Wall Street and how recent events have impacted our national economy. Understandably, many of you are concerned and want to know about the security of your own savings at Yakima Federal Savings and Loan Association.
We want to assure you that your money is safe and sound in Yakima Federal Savings and Loan Association. We’ve been in business for over 100 years and our depositors have never lost a single penny of their money. In fact, we have paid over 1 billion dollars in dividends to savers over our 104 year history.
Unlike some of the financial institutions you have been hearing about on the news, we know our market and our customers. We do not make risky or “subprime” mortgage loans, nor do we invest in securities that are backed by these loans. Instead we use conservative, safe lending practices that have successfully serviced our market and institution for years.
You should know that Yakima Federal Savings is well capitalized and has substantial financial reserves. Our tier one capital ratio stands at 17.639% and our liquidity ratios are high, currently 49.70% of assets and 61.73% of deposits. (Financial Ratios are as of June 30, 2009)
And remember that your deposits are insured up to maximum allowable amounts by the FDIC. These amounts were recently raised and you can access additional information about deposit insurance from the FDIC website at www.fdic.gov.
In summary, we want to thank you for your continued business and we look forward to a long and stable relationship with you for many years into the future.
Welcome to our website. Please take a moment to read our Privacy Statement. Our website represents our commitment to staying connected to the communities we serve. You'll want to "bookmark" our Home Page because we will be updating our pages often to make our website more user-friendly, interactive, and responsive to your needs.
On May 20, 2009, President Barack Obama signed the Helping Families Save Their Homes Act, which extends the temporary increase in the standard maximum deposit insurance amount (SMDIA) to $250,000 per depositor through December 31, 2013. This extension of the temporary $250,000 coverage limit became effective immediately upon the President's signature. The legislation provides that the SMDIA will return to $100,000 on January 1, 2014. Yakima Federal Savings is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through June 30, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules. Have some questions about deposit insurance? How much insurance coverage you have? Or, just want to know more? Use EDIE, the FDIC's interactive Web application.
Contact us to let us know what you think about our products and services... what you would like to see on our pages... or just about anything at all.
We hope you enjoy your visit at Yakima Federal Savings Online, but before you go... be sure to bookmark our Home Page because you'll want to come back again and again!
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