Credit Unions on the other hand, including Pacific Postal Credit Union, are not-for-profit financial cooperatives owned by our members and focused on serving those members’ interests, within our communities. We are not subject to big-profit pressures from investors or stockowners (unlike many banks). We are among the most well-capitalized financial institutions, maintaining equity reserves and liquid investments that prioritize needed safety and soundness for their members. You can be confident that PPCU is a safe and sound financial institution. We are very well reserved at over 16% (while SVB and Signature bank were at 7%) and we just finished our external examinations which showed that PPCU is a safe, sound, and stable credit union.
Furthermore, all deposits at PPCU are protected and federally insured up to $250,000 by the National Credit Union (NCUA) Share Insurance Fund, which has the backing of the full faith and credit of the US government and is a separate fund not associated with the Federal Deposit Insurance Corporation (FDIC) for banks.