REMINDER: Reward Visa Card holders must redeem their earned points before March 26th, 2023 (Sunday) when the Reward Program terminates. Your old Rewards card will also no longer be valid after March 26th. Visit our Credit Card Conversion page for complete details HERE.
Your Money is Safer in a Credit Union than in Your Pocket
The Coronavirus (COVID-19) pandemic is top-of-mind for just about everyone. However, one concern you can put to rest is about the safety of your money at a credit union. Here are four great reasons why you should not consider large cash withdrawals from your credit union account:
- You don’t need cash. Credit unions offer electronic tools like online and mobile banking that make it easy to access your accounts, transfer money, and make payments without cash.
- Your funds are safe. Your credit union accounts are federally insured by the National Credit Union Administration (NCUA) to at least $250,000. Your money is protected by the full faith and credit of the U.S. government when deposited in an insured financial institution.
- Cash is risky. Carrying cash or keeping it at home is a safety issue. If you’re robbed, or if the money is lost or destroyed, it is not insured and cannot be replaced.
- There’s no shortage. Credit unions have plenty of “liquidity” – funds available to pay depositors and make loans.
Have questions or concerns? Credit unions are entirely about people helping people--reach out to your financial institution today and let's navigate through these trying times, together.
By Sammy Dennis, Director of Communications at The Wisconsin Credit Union League.