Credit unions were born in a time of financial crisis, and we are a safe harbor during life’s storms. United Consumers Credit Union was chartered in 1941, so we’ve seen our fair share of U.S. financial crises:
- Energy crisis in the 1970s
- Recession in the 1980s and the 1987 Black Monday stock market crash
- Recession in the 1990s and the Savings & Loan crisis in 1995
- Dot-com bubble in the 2000s, the 9/11 attacks and the Great Recession
- COVID-19 pandemic
We’ve weathered each and every single one without losing a penny of our members’ money, thanks to the support of our members and leadership of our management and board of directors.
As a not-for-profit financial cooperative, our first priority is the people we serve. Recent bank failures have no connection to credit unions, but do emphasize how the credit union difference makes a clear difference for consumers.
Deposits at United Consumers Credit Union are safe and backed by the National Credit Union Administration, an independent U.S. government agency dedicated to protecting credit unions and their members. Our deposits are insured up to $250,000 per individual depositor – the same level as any federally insured financial institution. Visit MyCreditUnion.gov for more information about the National Credit Union Share Insurance Fund coverage for consumers.
United Consumers Credit Union is well-capitalized and stronger than ever, with growing deposits. By remaining focused on individual members and smaller businesses/organizations, we’re not affected by a specific industry’s downturn. The credit union’s investments are broad and diverse, helping to limit risk and prevent losses. Our experienced team is ready to answer any questions you may have. You can also learn more about the credit union difference at YourMoneyFurther.com.