If you have been following news coverage related to the collapse of Silicon Valley Bank or Signature Bank recently, you may have questions on how your deposits are protected at St. Mary’s Bank. We were established 114 years ago to serve the needs of our membership, and you can be assured that your money is safe and sound.
Deposits at St. Mary’s Bank are protected by the National Credit Union Share Insurance Fund and insured up to at least $250,000 per individual depositor—the same as any other federally-insured financial institution. Credit union members have never lost a penny of insured savings at a federally-insured credit union. Explore the insurance resources linked below.
Details on NCUA Deposit Insurance Coverage
National Credit Union Administration (NCUA) brochure outlining NCUA coverage: https://ncua.gov/files/publications/guides-manuals/NCUAHowYourAcctInsured.pdf
Discover how to maximize your coverage or calculate the amount of share insurance coverage using this online estimator
Our sound business practices focus on serving our members, while maintaining capital levels above regulatory well-capitalized requirements. Moreover, we carefully monitor liquidity, and practice conservative risk management oversight, which positions us well for changing economic conditions.
As a credit union member at St. Mary’s Bank, The Nation’s First Credit Union, you are an owner of our not-for-profit financial cooperative. Our first priority is your financial success, and we focus on financial security. We are here to help you. Please let us know if we may be of assistance. If you have any questions, please visit any branch office or call 1-888-786-2791.
We value your membership and thank you for banking with us. It is our honor to serve you and support our local community.
President, Chief Executive Officer