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The banking industry has generated significant headlines in 2023…everything from bank failures to missing payroll deposits into consumer accounts. Rest assured, Pacific Service Credit Union is safe, secure and operating as business as usual. We are a consumer-focused financial institution, which means we are not subject to big-profit pressures from investors or shareholders.We are a consumer-focused financial institution, which means we are not subject to big-profit pressures from investors or shareholders.
We are proud to be one of the best capitalized credit unions in the country with over 13% capital – nearly double the minimum required by our regulators. We maintain high net worth and liquid investments that prioritize safety and soundness for our members. Our liquidity position is strong, and we continue to fund loans and open new accounts as usual.
In addition, the National Credit Union Share Insurance Fund federally insures member deposits up to $250,000. For additional context, credit union members have never lost a penny of insured savings at a federally insured credit union, and our industry's deposit insurance fund has the backing of the full faith and credit of the U.S. government. Visit MyCreditUnion.gov for more information.
Today and every day, we put people before profits. If you are impacted by the fallout of recent events or know anyone who is, we are ready to help. For more information or immediate assistance, please call a member service representative at (888) 858-6878.