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Why TVFCU is a Safe and Secure Place to Keep Your Money

March 17, 2023

Learn more about NCUA Insurance by clicking the image to watch a short educational video.

Tennessee Valley Federal Credit Union (TVFCU) is uniquely positioned to benefit from the rate increases of the past year. In fact, 2022 was TVFCU’s best year ever, and we continue to be among the strongest financial institutions in the country.

TVFCU members can feel confident their funds are safe and secure for the following reasons: the NCUA Share Insurance Fund, Capital and Risk Management.

TVFCU members can rest assured their funds are safe and secure, backed by the complete confidence of the National Credit Union Administration (NCUA) — an independent United States government agency dedicated to protecting credit unions and our members. As a member of TVFCU, deposits are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.

The National Credit Union Administration's (NCUA) Share Insurance Toolkit lets members know how its share insurance rules apply to member share accounts—what's insured and what portion (if any) exceeds coverage limits.

TVFCU also has a very strong capital ratio. Capital (also known as net worth) is essentially the assets and resources available to us. It allows us to absorb credit losses and adverse economic circumstances - it's like our rainy day fund. It's worth noting that recent bank failures have been due to financial institutions having insufficient capital.

To be considered "well-capitalized", a credit union needs to have capitalization of at least 7%. So, how does TVFCU stack up? Our capital ratio is 12.82%, so TVFCU’s capital ratio is 83% above the level needed to be considered well capitalized. So, very strong indeed.

Essentially, TVFCU has a larger safety net than most. Our capital is almost double the minimum required to be considered well-capitalized. Bottom line is, we are in a great position whether rates increase or decrease.

TVFCU is conservative when it comes to investing funds. We are owned by our members and our first priority is their financial success and well-being. Every member has the same ownership status and our board of directors work on a volunteer basis. Our members are our investors and all decisions are made with their best interest in mind.

We're hopeful that the economy will flourish in the months ahead and we will continue working hard to maintain your trust and financial well-being, even during uncertain times.

Members can be reassured knowing that not a single member has ever lost a penny of insured savings at a federally insured credit union.

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