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member notice | your credit union deposits - safe & secure

(Danville)-- Friday’s news announcing the failure of Silicon Valley Bank (SVB) is being considered the second most significant failure of a financial institution in U.S. history.  We understand news like this can often lead to concern and have you wondering about the safety and security of your own deposit accounts. 

At Service 1st Federal Credit Union, we want you to rest assured knowing, that as a federally insured credit union, we offer our members a safe place to save money. Deposits at federally insured credit unions are protected by the National Credit Union Share Insurance Fund and insured up to at least $250,000 per individual depositor. This is the same as any other federally insured financial institution. The credit union insurance fund has the backing of the full faith and credit of the U.S. Government. 

Your deposits are safe and secure. As your credit union, we are regularly examined by financial regulators to ensure proper operational management and maintain the safety and soundness of members’ money within the institution. 

Credit union members have never lost a penny of insured savings at a federally insured credit union.

For additional information about the National Credit Union Share Insurance Fund coverage for consumers, visit For more information about Service 1st, stop by, call 800.562.6049 or connect with our Contact Center by clicking Let’s Talk! at the bottom of our website.
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