Keeping Your Information Safe | California & North Island Credit Union (2024)

FAQs

Is North Island credit union safe? ›

Member deposits are federally insured through the National Credit Union Administration (NCUA), a U.S. government agency. Credit union members have never lost a penny of insured savings at a federally insured credit union.

In 2011, the credit union reacquired the building at 701 N. Brand in Los Angeles as its headquarters from MPG Office Trust. The credit union had originally sold the building in 2006. Effective March 1, 2017, it merged with North Island Credit Union of San Diego.

In 1953, the credit union was renamed Sacramento Air Force Employees Federal Credit Union. By 1959, the board of directors shortened the name to S.A.F.E.

SAFE Credit Union is headquartered in Folsom and is the 16^th largest credit union in the state of California. It is also the 85^th largest credit union in the nation. It was established in 1940 and as of December of 2023, it had grown to 751 employees and 235,222 members at 21 locations.

Credit unions are insured by the National Credit Union Administration (NCUA). Just like the FDIC insures up to $250,000 for individuals' accounts of a bank, the NCUA insures up to $250,000 for individuals' accounts of a credit union. Beyond that amount, the bank or credit union takes an uninsured risk.

However, because credit unions serve mostly individuals and small businesses (rather than large investors) and are known to take fewer risks, credit unions are generally viewed as safer than banks in the event of a collapse. Regardless, both types of financial institutions are equally protected.

We are a federally insured, state chartered credit union that has been proudly serving Californians since 1933.

SAFE is a well-capitalized and financially sound credit union. The Board of Directors and management work very hard to ensure SAFE proactively manages the financial risks associated with a constantly changing economic environment. Our strong and diversified member base makes us more resilient than ever.

How secure is my credit union? ›

Federally insured credit unions offer a safe place for credit union members to save money. All deposits at federally insured credit unions are protected by the National Credit Union Share Insurance Fund, with deposits insured up to at least $250,000 per individual depositor.

All your SAFE Credit Union funds are NCUA insured (much like FDIC for a bank) to at least $250,000. Myth – The minimum deposit and ongoing balance requirement is higher than I can afford.

Recent Cyber Attacks on Credit Unions:

These attacks exploit vulnerabilities in digital infrastructures, putting member data and financial systems at risk. In some cases, threat actors have targeted credit unions for their perceived weaker security postures compared to larger financial institutions.

Which is Safer, a Bank or a Credit Union? As long as you are banking at a federally insured institution, whether it is a credit union insured by the NCUA or a bank by the FDIC, your money is equally safe. Credit unions are owned by the members—your savings account at a credit union is a share of ownership.

A truly unforgettable concert experience.

Located in Chula Vista, California, North Island Credit Union Amphitheatre ^® is a 20,000 capacity amphitheatre owned and operated by Live Nation.