Chairman's Corner - Robert Catalanotto

In light of recent events in the U.S. financial market, I want to reassure you that the Fannie Mae Federal Credit Union remains strong. As you may know, the Fannie Mae Federal Credit Union is a separate and distinct entity from Fannie Mae and is regulated by the National Credit Union Administration (NCUA). The results of our NCUA 2008 examination confirm that the Fannie Mae Federal Credit Union continues to be safe and strong. The credit union again received the NCUA’s highest composite “CAMEL” rating of “1” for the 14th consecutive year.

Our soundness is based on our strong business practices:

· we have ample liquidity that allows us to continue to fund loans and withdrawals;

· we did not participate in sub-prime mortgage lending;

· we follow sound financial underwriting practices;

· we did not invest in high-yield/high-risk securities;

· our operations are guided by a highly experienced team;

· our operations are overseen by a strong Board of Directors; and

· we received a “clean” audit of our financial statements by our independent auditor, DeLeon & Stang, Certified Public Accountants and Advisors.

In addition, it is important to know that your savings are federally insured through the National Credit Union Administration, a U.S. government agency. Your deposits are 100 percent insured to at least the standard maximum share insurance amount of $100,000 for regular share accounts and $250,000 for IRAs. Please refer to NAFCU’s publication “Your Federal Share Insurance,” available on our Web site, for more details on how to maximize NCUA share insurance coverage.

The Fannie Mae Federal Credit Union’s conservative financial policies, along with its strong management practices, allow us to continue to provide the services you need with the safety and soundness you expect. Because your credit union is financially strong, well managed, and backed by the full faith and credit of the U.S. government, your funds are safe at the Fannie Mae Federal Credit Union.

Thank you for your membership and for your continued support.

Robert Catalanotto
Chairman

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Your savings insured to $100,000 by NCUA.	The Fannie Mae Federal Credit Union does business in compliance with the Federal Fair Housing Laws and the Equal Credit Opportunity Act.

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Contact: Helen Bunn

Last Updated: 09/23/08