Banking failures
A couple of bank failures occurred in the past week. We want to ensure that you understand why the confidence and trust you have always had in PDCU should remain unchanged today.
- First and foremost, PDCU is financially sound and committed to providing safe, reliable financial products and services.
- People Driven Credit Union is federally insured, which means your deposits are protected and insured up to at least $250,000 per individual depositor by the National Share Insurance Fund. You may use the Share Insurance Estimator to calculate your coverage.
- Credit unions are significantly different from the failed institutions. PDCU’s membership is diverse, which means we are resistant to changes in any one area of the economy, as was the case with the institutions in the headlines.
- Finally, credit union members have never lost a penny of insured savings at a federally insured credit union.
PDCU is celebrating its 95th year serving members, and as always, we value you and your relationship with PDCU. We look forward to serving your financial needs for many years to come.
Renee DeMarco, President/CEO
Peg Lamb, SVP/Chief Risk Officer
