Your Funds Are Safe at COPFCU
Your Funds Are Safe And Federally Insured
In light of the bank failures recently reported in the media, we wanted to reassure you that COPFCU is in a strong financial position with healthy capital and that your funds are safe and federally insured.
The operations of your hometown credit union could not be more different from the banks that failed. We do not serve tech start-ups or venture capitalists. We serve public servants and their families in the Greater Cincinnati Area. We invest our funds in YOU – by providing home loans, car loans or any other loan you may need to fulfill your dreams and live your best life. We also purchase conservative investments backed by the federal government. These investments stabilize our income through both rising-rate and decreasing-rate environments. We perform a variety of “what if” tests on our portfolio to ensure that the credit union can withstand changes in the market. Credit union management meets regularly to review our portfolio, the results of these tests and to manage our risks.
Lastly, your funds are federally insured by the National Credit Union Administration (NCUA) up to $250,000 per accountholder, per ownership category and backed by the full faith and credit of the United States government. In fact, since the start of the credit union movement in 1934, no federally insured credit union member has lost any funds.
We encourage you to use these tools provided by NCUA to learn more.
- NCUA Share Insurance Calculator – Calculate the amount of your insured funds.
- NCUA Share Insurance Toolkit – Provides videos, booklets and more about your federal insurance.
Please feel free to contact us if you have questions about your accounts and federal NCUA Share Insurance.
As always, thank you for your continued loyalty and support. We look forward to serving the needs of your family for many years to come.