Member One Response to Recent Bank FailuresShare
The news has been full of stories over the last few days regarding the recent failures of two American banks. While this news is very concerning, we want to take this opportunity to assure you of the safety and soundness of your accounts with us here at Member One Federal Credit Union.
Most notably, the financial makeup of Member One is very different than that of both failed banks. We work diligently to ensure we have a diverse mix of both consumer and commercial accounts, and that we are never concentrated in riskier areas and emerging markets. We also maintain quick and reliable access to a variety of liquidity sources along with sensible internal and external controls to provide additional oversight.
For further protection, Member One is a federally-insured credit union, meaning your deposits are insured by the National Credit Union Administration (NCUA) up to $250,000.
Member One has been a crucial part of this community for the last 83 years. As a member-owned financial cooperative, we prioritize the stability of our Credit Union and its ability to provide our members safe, reliable access to their funds above all else. Our mission is to help our members, employees, and communities flourish – and we are confident in our ability to deliver on that mission each and every day through our ongoing, prudent financial management.
We deeply value your trust in our organization, and we look forward to continuing to serve your financial needs.
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