Your Credit Union Deposits Are Safe
- jpgarcia13
- Mar 27, 2023
- 1 min read
Here at Select FCU, we would like to take this opportunity to reassure our members about the safety and soundness of credit union deposits, remind them of the credit union difference as member-owned financial cooperatives, and provide some peace of mind during uncertainty.
As a credit union member at Select Federal Credit Union, you are an owner of our not-for-profit financial cooperative. Credit unions’ first priority is your financial success and security. You can be assured that your money is safe and sound at your credit union.
Credit union deposits are federally insured and secured. Federally insured credit unions offer a safe place for credit union members to save money. These deposits are protected by the National Credit Union Share Insurance Fund and insured up to at least $250,000 per individual depositor and is the same as any other federally insured financial institution.
You can visit MyCreditUnion.gov for more information about the National Credit Union Share Insurance Fund coverage for consumers.
In addition to our credit union-specific resources, you can find more information about the credit union difference on the Credit Union National Association’s Advancing Communities website at advancingcommunity.com.
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