Dear valued SafeAmerica Credit Union member,
The recent development regarding technology-based Silicon Valley Bank may have brought concern and questions regarding your deposits here at SafeAmerica Credit Union. This development does not affect the security of your accounts here at SafeAmerica Credit Union.
As a credit union, we operate under a different model than big banks. SafeAmerica Credit Union does not invest with or do commercial lending with any businesses such as technology start-ups or Crypto. We were founded in 1953 with the core principle of people helping people, and our focus has continuously been to help our members reach all their financial goals.
Most importantly, we want our members to feel safe with us. We understand that in times like these, consumers may feel uncertain about the safety of their money. I want to remind you that SafeAmerica Credit Union deposit accounts are insured to $500,000 per account through American Share Insurance (ASI). ASI is the credit union equivalent of the Federal Deposit Insurance Corporation (FDIC).
SafeAmerica Credit Union is 100% member-owned. Through our 70 years in serving the Bay Area and surrounding communities, we have successfully and responsibly managed our financial integrity and continue to work diligently for the safe keeping of our future.
We value your continued trust and assurance in us. We remain committed to providing you with security for all your deposits. We will continue to provide you with the friendly and knowledgeable service needed to answer any of your questions.
Thank you for allowing us to be your financial partner for 70 years and counting. Should you have any questions or concerns, don't hesitate to contact us at (800) 972-0999 or by visiting a branch.
Best regards,
Frank Zampella
Interim President/CEO
