To our members,
We are fortunate to live in one of the most vibrant areas of the world, here in the heart of the west. For over 84 years Sierra has helped generations of families, supported local businesses, and invested in our communities. The heart of the west will recover from whatever turmoil comes our way, but there are those among us who will need a helping hand to make it through. It is our promise to members that Sierra will continue to support our members and communities throughout these uncertain times, and that this credit union is in strong financial shape to offer that support.
It is normal in times of turmoil to wonder about the strength of institutions and the safety of your finances—even more so after the Great Recession. We know that members trust Sierra with their futures, and we take that responsibility very seriously.
During the last financial crisis, we were very open about showing off our financials to any member and took pride in having reserves well above what was required, and above our peer institutions. That remains today. We were prepared with a strong balance sheet then, and we have a strong balance sheet now. Sierra is one of the few institutions to carry private excess share insurance on top of the federally backed policy, providing members another layer security for their deposits.
To any member who would like to discuss Sierra’s financial position and how we’re keeping your accounts safe, you can reach out to me personally at 775-834-3337.
Members can find more information on our extensive share insurance policies, the excellent safety ratings we have received quarter after quarter from third parties, and information on our Capital Ratio here.
No matter the circumstances, at Sierra we will always do what we can to help our members and local businesses to face and recover from financial hardship. Please don’t hesitate to reach out. More information is available here, or you can call 775-857-2424 to start a conversation.
Thank you for your membership, your confidence, and your support. We look forward to many more decades of serving you here in the heart of the west.
President and CEO