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Protecting Your Money Is Our Top Priority

by | Mar 16, 2023 | News

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For the last few days, the banking industry has endured heightened scrutiny following the closure of Silicon Valley Bank and Signature Bank. At Texas DPS Credit Union (TXDPSCU), we want to assure you that your money is safe and protected.

As protection and security is our top priority, we wanted to remind you that all member accounts are insured for up to $500,000. This level of coverage is made possible through a combination of federal insurance provided by the National Credit Union Administration (NCUA) and private insurance from Excess Share Insurance Corporation (ESI). As a not-for-profit financial cooperative, TXDPSCU follows strict federal and state regulations to ensure we meet soundness standards so our members can be confident knowing their accounts are protected.

As stated by NCUA Chairman Todd M. Harper, “The NCUA is committed to the protection of credit union members and the safety and soundness of the credit union system overall. No one has ever lost a single penny of insured share deposits within the credit union system.” (Read the full statement)

We want to assure our members that your money is safe.

Want to see your coverage? Click here

If you have any questions, please do not hesitate to contact us.

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