Given recent events in the banking industry and within the news, we felt it timely to comment on the safety, soundness, and stability of YOUR State Farm Federal Credit Union (SFFCU). We remain steadfast to our mission and vision of improving your financial wellbeing and serving as a valued benefit to our members.
Our solid financial position is shown by the continued strength of our assets, capital, business approach and the share insurance coverage offered through the National Credit Union Administration (NCUA).
- Secure Assets. We hold a very stable and secure investment portfolio which is managed through a short-term strategy.
- Strong Capital. We maintain strong capital levels and capital-asset ratio. SFFCU receives the highest rankings from examiners for our financial and risk management.
- Sound Business Practices. Since our founding in 1936, our time-tested focus on sound business practices has served members well through a variety of economic and interest rate environments. We look to continue providing this popular State Farm benefit long into the future.
- Insured Deposits. NCUA Share Insurance Coverage insures up to at least $250,000 per individual depositor. No credit union member has ever experienced a loss of insured share deposits at a federally insured credit union.
We encourage all members to attend the Annual Meeting on March 23, 2023 at 1:00 p.m. CT for additional conversation.
Thank you for the trust you place in YOUR State Farm Federal Credit Union.