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Safe Harbor Credit Union Strength & Security

Safe Harbor Credit Union Strength & Security

Your local, community credit union has never been stronger than it is right now, your money is safe with us.


Silicon Valley Bank (SVB) in California and Signature Bank in New York were recently closed by federal regulators. Understandably, this may raise questions or concerns for our members.


Here are some FAQs to answer specific questions you may have. If you have any additional concerns, please do not hesitate to contact us at 1(866)570-SAFE or speak with our President Adam Johnson directly at (231)252-1160.


How will the news of the recent bank closures impact me and my deposits at Safe Harbor CU?

Safe Harbor CU members will not be impacted at all. Your deposits are safe and your money will be here waiting for you whenever you need to.


Is my money safe at Safe Harbor CU?

All deposits up to $250,000 per account holder are federally insured through the NCUA. According to, not one penny of insured savings has ever been lost by a member of a federally insured credit union.


How is Safe Harbor CU different than the banks who closed last week?

At an institutional level, an overwhelmingly majority of deposits held with Safe Harbor CU are fully or 100% insured with the NCUA. In contrast, approximately 90% of SVB’s deposits were not insured.

At Safe Harbor CU, our deposit base is comprised of member’s personal savings, checking, money markets, and CD deposits. In contrast, SVB deposits were primarily from large companies and venture capital funds, and Signature Bank was heavily tied to volatile cryptocurrencies.

Safe Harbor CU does not treat our investments as a source of liquidity. Instead, we use investments as collateral with the Federal Home Loan Bank (FHLB) to allow us to borrow through them. As such, we would not sell our investments to raise cash.

Safe Harbor CU’s investment portfolio only comprises of approximately 10% of its total assets. We are conservatively invested and diversified, whereas SVB’s investment portfolio comprised approximately 70% of its assets. These investments were too concentrated and not well planned to meet the institution’s needs.

Safe Harbor CU has considerable access to liquidity through our borrowing facilities with the Federal Home Loan Bank and our corporate credit union Alloya Corporate Federal Credit Union.


Should I be taking out cash as a precautionary measure?

Your money will be here when you need it at Safe Harbor CU or any of our Shared Branching locations. All deposits up to $250,000 per account are federally insured through the NCUA. Additionally, Safe Harbor CU is regularly examined by state and federal regulators for financial soundness. You don’t need to be concerned about losing your deposits, even in the cases of the recent bank closures, regulators acted to ensure none of their customers actually lost money.


Safe Harbor CU is here to answer any questions you may have about your accounts with us. Regarding investments you may have outside of Safe Harbor CU, seeking professional legal or wealth management advice is the best course of action.

If you have additional questions, please contact us at [email protected] or 1(866)570-SAFE for any additional questions not addressed here.

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