In light of recent banking industry news, we would like to take a quick moment to reassure you that 1st Nor Cal Credit Union and your deposits are not just safe, they are exceptionally safe. We understand you may have concerns and perhaps some questions, so please feel free to reach out to us personally if you like. Meanwhile, we would like to remind you that member funds on deposit at 1st Nor Cal Credit Union deposits are federally insured to at least $250,000 by the National Credit Union Administration (NCUA), rated the strongest federal financial insurance fund. Your Individual Retirement Account (IRA) investments are also insured for up to $250,000 by the same government agency. You should know that Credit Union members have never lost a penny of insured savings at a federally insured Credit Union, and our industry’s deposit insurance fund has the backing of the full faith and credit of the U.S. government. See https://mycreditunion.gov/ for more information.
Maintaining the financial strength of your Credit Union is literally the foundation of all we do here at 1st Nor Cal. Our continued high levels of capital are a sound measure of our financial strength and our ability to weather changes in the financial and economic environment, even dramatic changes. The National Credit Union Administration considers a Credit Union with 7% net worth as “well-capitalized” and 1st Nor Cal is proud to report that our net worth far exceeds this minimum with over 9.55% in net worth. Simply put, maintaining the strength and security of your Credit Union is and will always be our number 1 top priority.
1st Nor Cal Credit Union has also received the “5-Star” rating from Bauer Financial Reports each consecutive period since Bauer began evaluating credit unions in 1990. A “5-Star” rating from Bauer is the highest rating from this impartial rating agency and Bauer verifies that we are among the safest financial institutions in the United States! Please visit Bauer Financial by going online to www.bauerfinancial.com for more information on rating facts.
We would love to talk to you personally if you have additional questions, feel free to call us at 888-387-8632 or reach out to your local branch with any questions you might have.