Credit Union Deposits Are Safe

The collapse of Silicon Valley Bank last week is the second largest failure of a financial institution in U.S. history. The bank was shut down and put under the control of the FDIC following a 48-hour bank run and capital crisis. On March 12, regulators also shut down Signature Bank.

While this situation does not include any credit union failure, it may still create consumer concerns and questions at credit unions. We'd like to take this opportunity to reassure our members about the safety and soundness of your credit union deposits, remind you of the credit union difference as member-owned financial cooperatives, and provide some peace of mind during this time of uncertainty. 

Here are some key differences to remember about your credit union funds:

  • As a credit union member at Cal State LA Federal Credit Union, you are an owner of our not-for-profit financial cooperative. Credit unions’ first priority is your financial success, and we focus on financial security.
  • Cal State LA Federal Credit Union was chartered in 1961, and we are committed to serving our community. You can be assured that your money is safe and sound at our credit union. We have an experienced team to serve you and answer any questions or concerns.
  • Credit union deposits in federally insured credit unions are safe and secure.
  • Federally insured credit unions offer a safe place for credit union members to save money. These deposits are protected by the National Credit Union Share Insurance Fund and insured up to at least $250,000 per individual depositor – the same as any other federally insured financial institution.
  • Credit union members have never lost a penny of insured savings at a federally insured credit union.
  • You can visit for more information about the National Credit Union Share Insurance Fund coverage for consumers. 

Again, your money is safe and secure at our credit union, and protected up to $250,000 per individual depositor.

In addition to our credit union-specific resources, you can find more information about the credit union difference on the Credit Union National Association’s Advancing Communities website at   

You can also view this Insured Funds brochure as well as visit the Share Insurance Estimator for more information. 

For more information about Cal State LA Federal Credit Union, visit our About Us page. Free Membership is available for Cal State LA Faculty, Staff, Students, and Alumni.


Why Join Cal State LA Federal Credit Union?

We're like a bank, but with lower fees and better rates. Credit Unions are not-for-profit institutions that are member-owned and controlled. We only serve those who are within our field of membership and our products and services are created with our members in mind. We serve Cal State LA, El Sereno, and more. The best part is that if you become a member, your family members can join as well! Cal State LA Federal Credit Union is federally insured by the National Credit Union Administration.

Apply for a Membership

We welcome CSULA students, staff and faculty as well as residents from the surrounding communities. Find out your eligibility and join us today!


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