You’ve likely heard about the recent collapse of two large mainland banks, Silicon Valley Bank and Signature Bank. In light of this news, we want to assure you that your deposits are safe with Maui County Federal Credit Union.

Silicon Valley Bank was a niche bank serving a particular set of customers within the technology industry, including innovative tech start-ups, entrepreneurs, and venture capital firms. The bank was focused on a limited sector, which significantly increased its risk profile. Signature Bank was a New York financial institution with a big real estate lending business that had recently made a play to win cryptocurrency deposits

While this situation does not include any credit union failure, we want to provide you with peace of mind when it comes to your savings at Maui County Federal Credit Union, where we are committed to serving our Maui community. Our first priority is your financial well-being, and focusing on financial security.

High Net Worth
Maui County Federal Credit Union has been in operation for the past 85 years and is well capitalized with a net worth to assets ratio currently above 15%. Well-above the minimum 7% net worth to assets ratio that NCUA uses to be considered "well capitalized". Credit unions are among the most well-capitalized financial institutions, maintaining equity reserves and liquid investments that prioritize needed safety and soundness for their members.

All Deposits Federally Insured
All deposits at Maui County Federal Credit Union are protected by the National Credit Union Share Insurance Fund, a separate fund not associated with the Federal Deposit Insurance Corporation for banks. These credit union deposits are insured for up to $250,000 per individual depositor. 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.

Credit Unions are Member Owned
Maui County Federal Credit Union is a not-for-profit financial cooperative owned by our members. Our mission is to care for our members' needs and interests by providing services that encourage financial well-being. Like banks, we offer traditional financial products and services to individuals in our community. Unlike banks, we only serve our Maui County community and are not subject to big-profit pressures from investors/stock owners.