Silicon Valley Bank and Signature Bank were recently conserved because of the dramatic changes in our economy, and the structure of their balance sheets.
The most important thing to know is your credit union is very different than these institutions and your funds are safe and secure with us. Sebasticook Valley FCU is safe and sound with strong financial performance. Your credit union is regularly examined by the National Credit Union Administration and annually audited by a Maine based CPA firm. We have been found by both to be safely run and financially sound.
Your funds are also insured by the NCUSIF, National Credit Union Share Insurance Fund, up to $250,000 per member. More information can be found here, https://mycreditunion.gov/ on how this coverage applies to you. More importantly, credit union members have never lost a penny of insured deposits at a federally insured credit union like yours.
For 70 years we’ve been here to protect your funds and safeguard your assets. If you have any questions please contact us at any time.
Call us toll free at one of our offices 866-697-5472 or email us at info@svfcume.com.
