ATTENTION MEMBERS     The Board of Directors of Elko Federal Credit Union (EFCU) has declared an “Interest Refund” on interest paid by members during 2009. The Board’s action represents the fourth year in a row EFCU has declared an interest refund. If you are a member in good standing with EFCU as of December 31, 2009, you may be entitled to an interest refund.    As the result of prudent lending practices and a strong financial position, EFCU generated earnings that covered all operating expenses and also funded capital requirements to keep EFCU financially safe and sound.   The interest refund will be less than in previous years, because in 2009, there were events that required EFCU to additionally fund the National Credit Union Share Insurance Fund. This additional funding was needed because of the conservatorship of U S Central Federal Credit Union and Wescorp Federal Credit Union. All Federally Insured credit unions were required to provide additional contributions to the Share Insurance Fund which protects member’s deposits up to $250,000.00.     The interest refund will be stated on your December 31, 2009 member statement. All loans with the exception of overdraft protection loans and Visa card loans are eligible for the refund. If you have a loan associated with a member business account, your interest refund will be posted on January 4, 2010. The refund is based upon actual interest paid during 2009.   The Board of Directors wishes to thank members for their continued confidence and support of EFCU. The EFCU continues to be a safe and sound financial cooperative providing a wide range of financial services to our members.