With this weekend’s headlines regarding the FDIC shuttering a California bank, we realize you may have questions about the money you have deposited with Mill Town Credit Union.
Don't worry. Your money is safe here. The National Credit Union Share Insurance Fund insures your money, and it is protected up to $250,000 per individual depositor. For more information, visit mycreditunion.gov/share-insurance.
Unlike for-profit financial institutions, Mill Town Credit Union is a not-for-profit cooperative, owned by you and the other members using our services.
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All decisions about the products and services offered are made in your best interests.
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Our cooperative, not-for-profit structure inherently holds us accountable to you and to the other members. We do not have stockholders. We do not engage in risky practices to meet stockholders’ profit demands.
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Our portfolio is diverse and not dependent on a sole industry. Our services are diverse. We are here for Main Street, not Wall Street.
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We live and work in the communities that we serve, taking local deposits and making local loans.
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We are healthy (in business since 1939), strong, safe, local, and focused on building thriving communities.
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If you have questions about our capital, credit, or liquidity strength, please get in touch with us.
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The credit union system remains 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.
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No one has ever lost a single penny of insured share deposits within the credit union system.
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Visit www.ncua.gov for more information about The National Credit Union. Administration. You can also visit MyCreditUnion.gov for more information.
Mill Town Credit Union is safe and sound. We meet (or exceed) the financial standards regulators require for a credit union to be considered well-capitalized.
If you have questions, please don’t hesitate to contact us at 425.252.5139 or via email at milltown@milltowncu.org. And as always, if you do find yourself in a financial emergency, reach out, so we can work towards a solution.
We appreciate and value your membership. If you have friends or family members who are concerned about bank failures in the news, tell them about credit unions’ accountable, safe, not-for-profit cooperative structure. We would welcome them to join us.