October 8, 2008
To Our Customers:
Each day you are faced with the uncertainty resulting from the current economic crisis affecting Wall Street. We want you to know that Iroquois Federal is performing well. Our earnings for the fiscal year ending June 30, 2008 were strong, and we expect our earnings for this fiscal year to remain strong. We have received a five star “Superior” rating from Bauer Financial, a nationally recognized firm which provides ratings of various financial institutions. Our capital position is solid and our loan portfolio is performing well. We did not become involved in offering the kinds of mortgage products that have contributed to the current crisis, and we remain true to our mission of being committed to our communities. Our customers are now enjoying the benefits of our sound lending practices. If you should have any questions, contact me or one of our officers.
Alan D. Martin, President
