If you were looking for IBM Metro Employees Federal Credit Union, you found us! A new name with new and better things ahead!
New Certificate Rates!
With rates at all time lows, Greater Metro has continued to offer its members the highest certificate rates available in the market. We constantly review the competition to make sure that we offer our members the best wherever we can. However, with reduced loan demand, lower reinvestment opportunities and our eye on maintaining Credit Union profitability, it has been necessary to lower our certificate rates. We still maintain that even after lowering our rates, you'll be hard pressed to find higher ones elsewhere. View Our Rates.
Insurance Coverage Permanently Increased to $250,000 Per Depositor
On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which, in part, permanently raises the current standard maximum deposit insurance amount to $250,000. The standard maximum insurance amount of $100,000 had been temporarily raised to $250,000 until December 31, 2013. The FDIC insurance coverage limit, and in our case NCUSIF coverage limit, applies per depositor, per insured depository institution for each account ownership category.
The temporary increase from $100,000 to $250,000 was effective from October 3, 2008, through December 31, 2010. On May 20, 2009, the temporary increase was extended through December 31, 2013.
With this permanent increase of deposit insurance coverage to $250,000, depositors with CDs above $100,000 but below $250,000 will no longer have to worry about losing coverage on those CDs maturing beyond 2013.
Annual Meeting Held
July 7, 2010
The 2009 Annual Meeting was held on Wednesday, July 7th at the credit union main office in Long Island City. After it was announced that a quorum of members was present making it an official meeting, Chairman Robert Morrison proceeded with the meeting's agenda. The financial results for 2009 were reported. The results along with officer reports are located elsewhere on this website (see 2009 Annual Report).
The other main order of business was to certify the Board of Director election results. Robert Ambrose and Vincent D'Agostino were elected to serve 3 year terms. |
