We live in interesting times, but recent events within the financial industry can make us think and ask questions like, “Is my money safe?” “Is my money protected?” “Is my financial institution financially stable?” These questions are normal and expected. We as consumers, business owners and savers of our wealth need to know if our money is being taken care of by those, we entrusted our life savings, payroll dollars and earnings.
So, what does this mean for your deposits here at Capital Credit Union? We are proud and very confident to say your Capital Credit Union is financially sound!
When you became a member of Capital Credit Union, you didn’t become just a number, but an active part of an incredible movement. A credit union movement that anchors its belief in people helping people, and you are part of a financial organization that stands by their mission of, “Doing the Right Thing one member, one employee, and one experience at a time to strengthen the communities we serve.”
Doing the right thing can mean a lot of different things to different people, but one thing it means is making sure our members money is protected and safe every day.
CUNA ( Credit Union National Association) provided some key points on the credit union difference in the article CUNA Responds to Bank Failures: Credit Union Deposits Remain Safe, Insured . These key points highlight how we here at Capital Credit Union take the steps in securing your financial future.
- As not-for-profit financial cooperatives, credit unions’ first priority is members’ financial success and security.
• Federally insured credit unions, like Capital Credit Union, offer a safe place for credit union members to save money, deposits are protected by the National Credit Union Share Insurance Fund and insured up to at least $250,000 per individual depositor – the same as any other federally insured financial institution. - Credit union members have never lost a penny of insured savings at a federally insured credit union.
- MyCreditUnion.gov contains more information about the National Credit Union Share Insurance Fund coverage for consumers if members would like to learn more about how their deposits are protected.
At Capital Credit Union, we have been serving our members and local communities since 1927. That’s 96 years of continued trust from our members and being good stewards in the communities we serve. We will continue to be here for you, our member-owners and communities—creating safe places and maintaining deep trust, always.
