Dear Valued Member,

Many of you are aware of the recent events involving FDIC’s takeover of both Silicon Valley and Signature Bank. I completely understand the concerns this may raise regarding the stability and insurance of POPA FCU and institutions across the country. POPA FCU’s risk practices and industry exposure are in stark contrast to these two institutions. We are not subject to big-profit pressure from investors/stockowners (unlike many banks). For 45 years we have focused on individuals (not businesses) and the law enforcement community we serve. We prioritize safety and soundness over profitability and growth. Our risk management processes have resulted in strong capital and liquidity positions, which will allow us to continue to serve our members.

1. POPA FCU is well capitalized with over $39 million in reserves and well positioned to withstand an economic downturn. We continue to remain profitable, and your deposits are federally insured and guaranteed by the NCUA to at least $250,000 per individual account, with another $250,000 for IRAs.
2. Credit unions are not-for-profit cooperatives owned by their members to serve those members’ interests, offering traditional financial products and services.
3. Credit union members have never lost a penny of insured savings at a federally insured credit union, and our industry’s deposit insurance fund has the backing of the full faith and credit of the U.S. government.

We are committed to protecting and serving our members’ financial needs as you continue to protect and serve us. Please call (562) 229-9181 with any questions or concerns.

Sincerely,

Ray Bartus
President and CEO

To learn more about the financial health of the credit union please review our 2022 Annual Report

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