Over the weekend, news broke that two banks across the nation failed. The banks that failed were structured different than most, and were far different from East Idaho Credit Union. One was primarily focused on serving the venture capitalist segment in Silicon Valley and the other was primarily focused on the cryptocurrency industry. It was announced that the federal government would protect all the depositors of the Silicon Valley Bank and Signature Bank above the FDIC insurance limits.
East Idaho Credit Union was established in 1935. In that time, we have been a pillar of strength through our nation’s economic struggles. We have held strong through the Great Depression, the Second World War, the financial collapse of 2008 and various conflicts and recessions across the world. Our income and reserve accounts are among the highest in the state of Idaho. We are confident that our members accounts, deposits and loans are safe and secure at our historically strong institution.
We are a federally insured credit union through the NCUA and accounts are insured up to a minimum of $250,000. With some basic account structure those accounts can be insured for much more. Please call us or visit a branch for information on how to best structure your accounts.
You can visit https://mycreditunion.gov/share-insurance and verify that East Idaho Credit Union is federally insured by the NCUA and you can do calculations to determine the insurance limits on your accounts.
At East Idaho Credit Union we believe in building better lives for our members, our communities, and the great state of Idaho.
As always, we will be available in your communities, online or over the phone to assist you as we always have since 1935.