Learn How Your Deposits Are Safe At Nuvision

Dear Valued Member,

With the recent news about the failure of several U.S. banks, we want to share some important information about Nuvision and the continued financial strength, safety, and stability of your credit union.

We have proudly served our hard-working members for over 85 years. Throughout this time, we have smoothly weathered many economic and industry challenges for one simple reason: we have maintained a singular focus on the traditional fundamental banking principle of protecting our members’ hard-earned funds through sound, prudent business practices. We are honored to safeguard our member-owner’s accounts, and have carefully avoided high-risk financial sectors and ventures that could jeopardize the health of your credit union or the security of your finances.

Because of our core philosophy emphasizing safety and soundness, we have a strong capital position  with significant liquidity sources. In fact, Nuvision  is well capitalized. By focusing on meeting the financial needs of over 155,000 individuals and small businesses across a wide geographic region, we are supported by a stable, diverse deposit base. And, as was the case with the recent bank failures, we do not have any exposure to technology start-ups, cryptocurrency-related firms, or specialized industries vulnerable to volatility.

It's also important to remember that member deposits with Nuvision are federally insured by the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the United States Government. We’re happy to review your accounts with you to make sure you’re maximizing your federal insurance coverage.

Your deposits are in good hands here at Nuvision. We have helped members build their lives for more than eight decades, and we are in a strong financial position to continue that purpose for many more to come.

Please don’t hesitate to contact us if you have any questions about your accounts or how we can serve you better.

If you require deposit insurance coverage greater than the $250,000 provided through the NCUSIF, you may obtain additional separate coverage through ownership interests in multiple accounts or rights in different types of accounts, and with the properly completed forms. For example, if you have a single ownership regular share account and an Individual Retirement Account (IRA), the regular share account is insured up to $250,000 and the IRA is separately insured up to $250,000. 

For more information on how to structure your accounts and maximize your insurance check out the NCUA insurance estimator here.