Challenging economic times and troubling news in the banking industry have many people feeling nervous regarding the solvency of their financial institution. But not members of Indian River Federal Credit Union.

Indian River Federal Credit Union remains healthy and well-positioned to serve the needs of its members. The National Credit Union Share Insurance Fund (NCUSIF) --- the Federal agency that insures member deposits --- is also in excellent health.

The reasons why are found in the fundamental differences between Indian River Federal Credit Union and its competition. As a cooperative, member-owned, not-for-profit financial institution, Indian River Federal Credit Union exists to serve its members --- not merely to make a profit. Because of this, it did not make the risky loans that many of its competitors did, and so its loan portfolio is performing well despite the economy.

The National Credit Union Share Insurance Fund, which guarantees member deposits up to $100,000 and certain retirement accounts up to $250,000, has likewise put itself in a position of strength.

"The credit union industry is healthy," boasts National Credit Union Administration Chairman JoAnn Johnson. "(The NCUSIF) enters the second half of 2008 secure and well-capitalized."

Since the inception of the NCUSIF in 1970, U.S. taxpayers have never had to bail out the credit union system. Not one penny of insured savings has ever been lost by a member of a federally insured credit union.

Indian River Federal Credit Union is strong and well-positioned to serve its members. It entered this economic situation with strong financial statements, and will still be in excellent financial condition when economic conditions improve.

Established in 1959, Indian River Federal Credit Union serves those who live, work, worship or attend school in Indian River County. Offices are located at 2800 20 th St, Vero Beach, and 11638 US Hwy 1, Sebastian. More information can be obtained by logging on to www.irfcu.com, calling 770-5020, or visiting your local office.

To learn more about the National Credit Union Administration, the National Credit Union Share Insurance Fund and for the full Media Release of comments by Chairman Johnson, visit http://www.ncua.gov.