Your Credit Union is Secure

Over the past week, there have been several bank failures that you may have heard about. In response to their recent collapses, we at Jordan Credit Union (JCU) assure you, our valued members, that we are secure and sound. JCU has a strong track record of stability and safety. In fact, as a credit union we have consistently outperformed banks in terms of safety and soundness ratings.

  1. Credit unions are separate and distinct from banks, and they operate under a different set of regulations and guidelines. Credit unions are member-owned and not-for-profit, which means that our primary focus is on serving members. Banks, on the other hand, are created for the benefit of their investors. While they are regulated by the FDIC, their primary focus is to give greater returns to their investors which gives them a different focus than credit unions.
  2. The National Credit Union Administration (NCUA) is the federal agency that regulates credit unions and ensures that they operate in a safe and sound manner. Because we knew the risk of investing our members’ funds in long-term investments, we were very careful not to do so. While JCU does have some long-term investments, it is a much smaller percentage of our investments and much less risky
  3. JCU is governed by a board of directors that is elected by the members. This means that the decisions made by the board are focused on serving the needs and interests of our members.
  4. JCU is well-capitalized and has a strong financial position. This means that we are well-positioned to weather any potential economic downturns or financial crises.