As you are likely aware of the news regarding Silicon Valley Bank in California and Signature Bank in New York, we want to assure you that Walled Lake Schools Federal Credit Union is financially safe and sound. The credit union’s liquidity position is strong and managed well. Our Net Worth Ratio is well within the NCUA’s guidelines and we are considered well capitalized.
All our member deposits are insured by the NCUA up to $250,000. Our balance sheet and member base are structured much differently than those failed financial institutions. Walled Lake Schools Federal Credit Union’s balance sheet, member base, and investment portfolio is well diversified while the main focus of the failed institutions was on large venture capital companies and crypto currency.
As always, we are honored to serve our members and appreciate your trust in us. We take that trust very seriously and operate within conservative risk policies to ensure we are strong and can continue to serve our members through various economic cycles. If you have any questions or concerns, please feel free to contact us.Go to main navigation