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CU System
Kentucky paper Local CUs banks strong
HENDERSON, Ky. (9/30/08)--Local credit unions and banks in the Henderson, Ky., area appear to be healthier than the nation's teetering big banks, reported The Gleaner and Evansville (Ind.) Courier Press (Sept. 28). The newspapers reported on two bank rating services that evaluate the financial strength of financial institutions and noted that the area's financial institutions are doing well. Most credit unions in the area received four- or five-star ratings from Bauer and Bankrate, the ratings agencies. Commonwealth FCU, Frankfort, and Gibbs Aluminum FCU, Henderson, received five stars from both ratings services, said the article. Green River Area FCU, Owensburg, and Evansville (Ind.) Teachers FCU, which has a branch in Owensburg, both received five stars from Bauer and four from Bankrate. The Evansville Teachers FCU told the publications that a long practice of conservative investing and lending practices, plus the fact the credit union has avoided subprime lending, are reasons for its financial strength. Also mentioned as highly rated were Alcan Employees CU in Louisville and Dynamic Healthcare Employees CU, Evansville.
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