As a member of Advia Credit Union, your savings are safe and secure. We are committed to providing timely and valuable messages to you regarding financial topics and issues of concern.
In follow up to a recent announcement regarding the closure of Silicon Valley Bank in California, we want you to feel confident in the safety and soundness of your savings with us and we're here to help answer any questions you may have.
A commitment to safety and soundness.
Recently named a best in-state credit union by Forbes, Advia serves nearly 200,000 local families and businesses and maintains a healthy mix of savings, checking, and loans for our members. We are positioned within the top 3% of credit unions nationally in terms of asset size and our balance sheet is sound.
In terms of our net equity position, Advia is capitalized well above what is considered safe and sound by the National Credit Union Administration (NCUA). We encourage you to visit our Financial Soundness page to view current and historical Annual Reports which provide a snapshot of our financial performance over the last several years.
How Advia is different than banks like Silicon Valley Bank.
We have a diverse membership base and our portfolio of deposits held is quite different than a bank like Silicon Valley Bank (SVB) who primarily serves venture capitalists and technology start-up firms. Furthermore, a majority of deposits held with SVB were not insured.
Your deposits are federally insured.
At Advia, your deposits are federally insured to at least $250,000 per depositor, backed by the full faith and commitment of the US Federal Government.
Concerned that you should withdraw extra cash?
Advia Credit Union has ample access to liquidity, and you do not need to be concerned about the safety of your savings held with us. We’re here when you need us and will continue to be in both good economic times and during periods of turbulence in the market.
Have questions? We’re here to help.
We understand that you may have questions beyond what we’ve addressed here. So please feel free to contact us at 844-238-4228, visit a nearby location, or consider contacting us via email or 24-hour chat.
Thank you for the trust you place in Advia Credit Union as your financial partner. Our mission is to provide financial advantages,
and we are well-positioned to continue fulfilling this commitment to you.