The bottom line: Your money is safe at Alaska Air Group Credit Union!
With this weekend’s headlines regarding the FDIC shuttering a California bank, we realize you may have questions about the money you have deposited in your credit union.
Don’t worry. Your money is safe here. The National Credit Union Share Insurance Fund insures your money, and it is protected up to $250,000 per individual depositor. Credit union members have never lost a penny of insured money. For more information, visit mycreditunion.gov/share-insurance.
What happens if you have over $250,000 in your accounts at AAGCU?
You may qualify for more than the $250,000 coverage if you have a joint owner(s) on your account, or if your money is in different ownership categories. For more information on this, visit Share Insurance Estimator – FAQ | MyCreditUnion.gov or give us a call at (206) 824-9800 for specific questions.
In addition to share insurance, the structure of credit unions makes your money safer with us. Unlike for-profit financial institutions, your credit union is a not-for-profit cooperative, owned by you and the other members using our services.
- All decisions about the products and services offered are made in your best interests.
- Our cooperative, not-for-profit structure inherently holds us accountable to you and to the other members. We do not have stockholders. We do not engage in risky practices to meet stockholders’ profit demands.
- Our portfolio and services are diverse and not dependent on a sole industry.
- We also do not offer business loans, allowing us to have safer, less risky lending practices.
- We are healthy, strong, safe, and focused on serving the needs of Alaska Air Group employees and their families.
Alaska Air Group Credit Union is safe and sound. We exceed the financial standards regulators require for a credit union to be considered well-capitalized. If you have questions about our capital, credit, or liquidity strength, please send us an email to firstname.lastname@example.org.
If you have questions, please don’t hesitate to contact us at (206) 824-9800 or via email at email@example.com. And as always, if you do find yourself in a financial emergency, reach out, so we can work towards a solution.