Credit unions are a safe harbor

As consumers grapple with the news of the second largest bank failure in U.S. history—followed by another related bank shut down—credit unions remain focused on keeping consumers’ money safe and secure.

The bank failure, while having no connection to credit unions, does emphasize how the credit union difference MAKES a difference for consumers. As not-for-profit financial cooperatives, every credit union’s priority is their members – the people who own the credit union.

We work towards financial well-being for all, and our actions show it. With people’s financial security and success as our priorities – credit unions don’t take unnecessary risks with those same people’s money because every single dollar belongs to our members.

We provide a needed and valued choice in financial services.

Credit unions offer a safe place for consumers to save money. Our deposits are insured up to $250,000 per individual depositor– the same as any federally insured financial institution.

Most importantly, credit union members have never lost a penny of insured savings at a federally insured credit union.

More people are seeking stability in institutions they can trust. That is why when asked: “Allowing credit unions to expand into more local communities and provide more loans to small business as a way to promote economic growth,” 91% said yes.

And 75% agree that: “Americans would be better off financially if more were to use credit unions rather than banks.”

You can see the credit union difference at work as we provide affordable financial services to hard-working Americans, regardless of where they live – rural, urban, and everywhere in between. When we protect families from predatory lenders and ensure members’ personal financial data is secure. In helping people achieve their financial dreams of home ownership, sending their children to college, or opening their own business with lower cost loans. 

There is a credit union for everyone, and every need.  No matter what life brings, including times of financial uncertainty, credit unions are a safe and secure harbor that consumers can count on.   

Jim Nussle

Jim Nussle

Jim is President and CEO of America's Credit Unions. Jim is a former nine-term congressman and director of the White House Office of Management and Budget for President George W. ... Web: Details