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Statement regarding recent bank collapses

By March 21, 2023May 26th, 2024No Comments

The recent collapse of Silicon Valley Bank serves as a reminder that the safety and security of your financial institution is an important consideration. With Signal Financial Federal Credit Union as your financial partner, you can rest assured that your funds are well protected. Signal Financial FCU along with the entire credit union system, remain well-capitalized and on a solid footing. The National Credit Union Administration continues to monitor credit union performance through both the examination process and offsite monitoring, and it will continue to do so into the future. Credit unions have access to a wide range of liquidity sources. The NCUA, along with its Central Liquidity Facility, are able to provide a back-up source of liquidity to member credit unions as needed. The agency continues to coordinate with the other federal financial institution regulators to ensure the continued resiliency of the American financial services system. As always, Signal is committed to the protection of our members. No one has ever lost a single penny of insured share deposits within the credit union system.

For details on Signal’s current financial position and privacy policy, feel free to explore our most recent Annual Report and Privacy Policy available on our website.

Thank you for making Signal your lifetime financial partner!