Your money is safe and sound with Infinity Credit Union.
With the recent news about the two bank failures in California and New York, it is understandable that some of our members are concerned.
While we cannot speak to these banks, we can address our situation at Infinity Credit Union.
- Our member deposits are insured by the National Credit Union Administration. If you have questions about your specific accounts and balances, please give us a call.
- We receive the highest examination ratings from both the Illinois Department of Financial and Professional Regulation (our regulator), and the National Credit Union Administration (our federal deposit insurer).
- We are rated a “Well-Capitalized” credit union by both the State of Illinois and the NCUA.
- We maintain a very strong liquidity position and maintain multiple sources of liquidity should the need arise.
- We invest in loans for you, our members. We don’t invest in things, such as Crypto-Currency, that may be trendy but likely risky.
- 100% of our past-due loans are covered in our loan-loss provision.
While recent events can be disturbing, please feel confident about your credit union. If you have specific questions about your accounts, insurance, or the credit union in general, feel free to give us a call.
The external environment is certainly causing questions, but you should feel very confident in the safety and soundness of the credit union for the following reasons:
- Our member deposits are insured by the National Credit Union Administration (ncua.gov). If you have questions about your specific accounts and balances, please give us a call.
- We receive the highest examination ratings from both the Illinois Department of Financial and Professional Regulation (our regulator), and the National Credit Union Administration (NCUA), our federal deposit insurer.
- We are rated a “Well-Capitalized” credit union by both the State of Illinois and the NCUA.
- We maintain a very strong liquidity position and maintain multiple liquidity sources should the need arise.
- We invest in loans for you, our members. We don’t invest in things, such as Crypto-Currency, that may be trendy but likely risky.
- 100% of our past-due loans are covered in our loan-loss provision.
- 8 out 10 members recommend us to their friends, coworkers, and family.
Below is the link to the communication that was sent to members via email. If you have questions regarding any of these communications, please contact us.
March 14, 2022 – NCUA Safety & Soundness Member Communication