No. Credit Union of Colorado’s balance sheet is strong, and our systems are secure. You can read a statement about this topic from CUofCO CEO, Terry Leis here.

SVB was heavily concentrated in startup companies and venture capital firms with a small number of depositors holding large amounts of cash in the bank. Signature Bank was heavily focused on banking crypto-currency companies.

Yes, the Credit Union of Colorado is a federally insured credit union. All Credit Union of Colorado members have National Credit Union Administration (NCUA) Share Insurance. This deposit protection is backed by the United States Government.

NCUA insurance guarantees that you’ll receive the money that you’re entitled to from your deposit account if your credit union goes under. It guarantees up to $250,000 per person, per institution, per ownership category and joint accounts are covered at $250,000 per owner, per ownership category.