This is not a good move. Having higher reserves and tighter lending policies is why credit unions are in generally much better shape than regular banks.
It doesn’t inspire greater confidence in me, that’s for sure.
I’m not in the habit of posting notices from my financial institutions on public forums, but unless someone can explain this in terms more favorable that is evident in the notice itself, I’m very concerned.
I check the ratings for all my financial institutions monthly. This CU is not small, not large, headquartered in IL. They have been the very model of responsibility in the past, from my understanding of the data I’ve monitored since the spring of last year.
I am a member of NFCU. I think that they are horrible.