Like you, we are all keeping our eyes on news updates regarding Silicon Valley Bank and Signature Bank – the second and third-largest bank failures in our nation’s history. It likely has you asking questions about how something like this could affect your money. AmeriChoice Federal Credit Union has provided a safe and sound place for your hard-earned dollars since our founding in 1970. During this time, we have served the needs of our more than 15,000 members and our local communities by safeguarding your money, managing risk, and making thoughtful decisions to our diversified portfolio.
Your deposits are safe with AmeriChoice Federal Credit Union, and are insured up to $250,000 per share owner for each account ownership category you have with the credit union. The National Credit Union Administration (NCUA) operates and manages the National Credit Union Share Insurance Fund (NCUSIF), which has been a safeguard for members through 8 different recessions since 1970. Your deposit share accounts are insured by the federal government through the NCUSIF, which insures all federal credit unions and the vast majority of state-chartered credit unions.
Credit union members have never lost a penny of insured savings at a federally insured credit union. In addition, you can have confidence that as a not-for-profit financial cooperative, our first priority is our members’ financial success and security.
As always, our team is here to answer any questions or concerns you may have. You may also visit for more information about the National Credit Union Share Insurance Fund coverage for consumers.
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