YOUR MONEY IS SAFE AND INSURED!
We know you work hard for your money and you deserve the peace of mind of knowing that your money is safe. Also, your accounts are fully insured by the National Credit Union Administration (NCUA) up to at least $250,000 per individual. (If a member has over $250,000 on deposit, options are provided for additional share insurance coverage because the NCUA provides separate and additional insurance for other accounts/ownership structures). You take risks at work, we help your hard-earned money play it safe.
We’re Union Strong And Here For You!
While the economy has felt fragile and unpredictable over the past several months, Ironworkers USA CU remains exceptionally strong. We’ve increased our capital (or rainy-day fund) every year over the past decade, far exceeding the regulatory standard for “well-capitalized” credit unions, and continually operate within the regulatory definition of “safe and sound” practices. So our members can rest easy, knowing we’re better prepared to weather whatever may come.
We’ll continue to provide you with the solutions that you need, and help you save with lower fees and competitive rates. If you ever experience financial hardship, please don’t hesitate to reach out. Our staff is here to help, with solutions and assistance for your unique situation.
The Credit Union Advantage
Credit unions are structured differently than banks. Credit unions can provide you with the same services – opportunities to save, to borrow so you can buy a car, a home, or go on vacation – but the bottom line is that credit unions are not-for-profit cooperatives. In other words, the credit union is essentially owned by you and your fellow members. The major difference is Credit Union’s are protected or insured by NCUA vs banks are insured by FDIC. The only difference is the NCUA insures credit union deposits whereas the FDIC insures bank deposits. Other than that, the two work similarly. If a credit union should happen to fail, the NCUA will pay insured deposits to the member owning the account. The same goes for a bank. The failed banks are much different than credit unions. They had unique portfolios, focused on tech, venture capital, and cryptocurrency interests.
What Does That Mean for You? It Means It’s All About You!
The decisions about products and services offered are made in your best interests. Our board of directors is comprised of people just like you who are members of the credit union. We answer to our members, not Wall Street. Ironworkers USA CU does not have stockholders pressuring us to engage in risky practices to return profits to them. As a cooperative, we invest our earnings back into you, the member. (That’s why you will often get a better interest rate on your car loan or savings accounts.) Our cooperative structure inherently holds us accountable to you, and to the other members. We exist solely to serve Union Ironworkers and their families, our mission is to help build to a strong future for Ironworkers across the country.
If you have any questions, don’t hesitate to contact us directly at 877-769-4766, we are happy to help.
