SMARTLAB by Logix

When it comes to your hard-earned money, ensuring its safety is a top priority. You may be considering joining a credit union and wondering, "Are credit unions FDIC insured?" This is an important question, and we're here to provide you with all the information you need to make an informed decision about your finances. 

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In the realm of personal finance, making informed decisions is paramount. One question that often arises is, "Are Credit Unions Safer than Banks?" 

If you’re looking for a short answer, you’ll be happy to know that we’re not making you read the whole post: Credit Unions and banks are roughly identical in safety because deposits at both are insured by the Federal government to $250,000. Read more here about how to increase your insured deposits at Logix beyond $250,000. 

Longer answer: Well… maybe just a little bit safer. You should read more about that below. But there are 1,000 other reasons why credit unions are a better home for your financial relationships than banks. With safety being essentially the same, consider that your deposit, or even your checking account balance at a credit union goes directly to helping people in your community get a loan or other banking services instead of lining the pockets of a bank owner.

Let's delve into this topic, focusing on what makes credit unions a unique and secure option.   

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Dear Valued Member,

I hope this message finds you and your loved ones in good health and spirits. It is always a joy to connect with you, even if it is through the medium of this letter. Our community at Logix is very special to me, and these moments of communication are a significant part of what makes our institution unique.

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Imagine you're at the annual Food Festival, and the highly anticipated award for "Best Pizza" is about to be announced. The crowd is buzzing with excitement, awaiting the results. The envelope is opened, and the winner is… a homemade lasagna! The audience is ecstatic, the lasagna basks in the spotlight, and the pizza contenders are left in disbelief.

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Many members came to #creditunions chasing a great rate, not realizing that they are taking part in something larger and more important – especially during times of economic uncertainty. So, while every company that has your email address wrote you last week about the safety of your account, I’d like to tell you why the one from your credit union might be worth a second look.

After all, you own the place.

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