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Are credit union safe1/11/2024 This means Numerica ranked among the top 11 credit unions in the nation with more than $1 billion in assets. Heart: You want to make sure we care about what’s important to you.įor the third consecutive year, Numerica received Raddon’s Crystal Performance Award.Competency: You want us to know what we’re doing. Strength: You want a track record of dependability.That’s why we’ve spent years cultivating a resume built on strength, competency, and heart. After all, this is your money we’re talking about. Prioritizing the safety of your money at NumericaĪs a credit union, the financial well-being of our members is part of Numerica’s architecture. This makes it much safer than holding on to cash. The good news: No one has ever lost an insured deposit from a federally insured credit union. The only difference in a bank’s federal insurance protection is that it happens through a different federal agency, FDIC. government agency, which means these insured deposits are protected and guaranteed by the federal government. Your deposits are automatically insured up to $250,000 by the National Credit Union Association. Many credit unions are federally insuredįederally insured credit unions like Numerica offer the same protection as banks. More often than not, this translates into better rates, lower fees, no-stress services, and outstanding support. What does member ownership have to do with purpose? It drives credit unions to be member-centric. They typically live in the same neighborhoods where the credit unions operate and share local concerns. Board members are credit union members first. Every member has an equal share and an equal say.Ī volunteer board of directors is elected to make sure no one loses sight of the mission. At a credit union, the members own the organization. These people may or may not have an account with the bank. This makes the purpose of a credit union vastly different from a bank. Successful credit unions are those that focus on member interests. Successful banks are those that make the most money. A credit union makes those same decisions based on serving you, the member. When a bank sets rates and fees, it must make decisions based upon earning profits. This makes the structure of a credit union vastly different from a bank. Here are a few comparisons of credit unions vs. Credit unions have a structure, purpose, and protection that are all about you. When you’re a member of a credit union, you’re the main character of that credit union’s story. How NCUA insurance works - and how to maximize it.How Numerica leverages its strength and expertise to help you live well.
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