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Safe, Strong, and Here For You

Between this week’s headlines about the banking industry and the continued uncertainty of the global economy, we felt like this is the perfect time to remind you that Lewis Clark Credit Union (LCCU) is here for you, our members. Your Credit Union is safe and strong, just as we have been since 1939.

Your Money Is Safe and Insured

Most importantly, we want to let you know that your funds deposited in this Credit Union are safe. Also, your accounts are fully insured by the National Credit Union Share Insurance Fund (NCUSIF) up to at least $250,000 per individual. (If a member has over $250,000 on deposit, options are provided for additional share insurance coverage because the NCUSIF provides separate and additional insurance for other accounts/ownership structures).

We’re Strong and We’re Here For You

While the economy has felt fragile and unpredictable over the past several months, LCCU remains exceptionally strong. We’ve increased our capital (or rainy-day fund) every year over the past decade, far exceeding the regulatory standard for “well-capitalized” credit unions, and continually operate within the regulatory definition of “safe and sound” practices. So our members can rest easy, knowing we’re better prepared to weather whatever may come.

We’ll continue to provide you with the solutions that you need, and help you save with lower fees and competitive rates. It’s our commitment to you, and it doesn’t change in challenging times. If you ever do experience financial hardship, please don’t hesitate to reach out. Our staff is here to help, with solutions and assistance for your unique situation.

The Credit Union Advantage

Credit unions are structured differently than banks. Credit unions can provide you with the same services – opportunities to save, to borrow so you can buy a car, a home, or start a business – but the bottom line is that credit unions are not-for-profit cooperatives. In other words, the credit union is essentially owned by you and your fellow members. During challenging economic times, credit unions remain strong because credit unions don’t profit from motives that are driven by risk. The failed banks are much different than credit unions. They had unique portfolios, focused on tech, venture capital, and cryptocurrency interests. Traditional financial institutions have more diverse portfolios and policies.

What does that mean for you? It means it’s all about you!

  • The decisions about products and services offered are made in your best interests. Our board of directors is comprised of people just like you who are members of the credit union.
  • We answer to our members, not Wall Street. LCCU does not have stockholders pressuring us to engage in risky practices to return profits to them. As a cooperative, we invest our earnings back into you, the member. (That’s why you will often get a better interest rate on your car loan or savings accounts.)
  • Our cooperative structure inherently holds us accountable to you, and to the other members.
  • And, we live and work in this community, too. We exist solely to serve our members, taking local deposits and making local loans.
  • We are healthy, safe, local, and focused on financial wellness for all, and on building thriving communities.

Warm regards,

Trisha Baker, President/CEO
Lewis Clark Credit Union