Despite Tenuous Times, Your Money is Safer in Your Credit Union or Bank - AmeriCU Credit Union

Despite Tenuous Times, Your Money is Safer in Your Credit Union or Bank

4.20.22

With growing concerns over the conflict in Eastern Europe and the threat of cyberattacks looming, AmeriCU Credit Union understands their members may be worried.

Alissa Sykes Tulloch, Executive Vice President and Chief Operating Officer of AmeriCU Credit Union, notes that credit union representatives have had interactions with some members looking to withdraw large sums of money, concerned over looming crises abroad. While an acceptable practice, Tulloch promises there is no cause for alarm.

“Your money is safest where it is – with AmeriCU,” she states in an official release from the credit union. “Our number one priority is always our members financial well-being, and frankly it’s a matter of our members’ safety and security – having that much cash physically in-hand and not somewhere where it is safe, secure, and most importantly, insured, is not something we recommend.”

It’s important to note that members of credit unions are federally insured by the National Credit Union Association (NCUA). With the NCUA, up to $250,000 of your funds, per depositor, per institution, are 100% safe from financial worry.

“American banking systems have proven time and again their ability to weather any fluctuation seen in the global markets,” reiterated Ron Belle, AmeriCU’s President and CEO. “Your credit union is well-positioned to do the same for the safety, security, and to the benefit of all of our members.”

For more information or for questions regarding funds security, you can visit www.americu.org or call AmeriCU’s Member Service Center at 800.388.2000.