Image of Shane Saunders President/CEO

A few words on the state of banking

We’ve all seen the news regarding Silicon Valley Bank, and the ongoing news about banking in general.

You may wonder, are my local credit unions and financial institutions safe? Yes. Credit unions like Mocse and local financial institutions have nothing in common with Silicon Valley Bank. Since 1959, Mocse has served everyday members in everyday ways. Our products are normal, and our members are regular people. They work in the schools, local dairies, farms, hospitals, restaurants, and businesses. Most of our members are from here, born and raised.

Silicon Valley Bank served technology startups. Those startups received hundreds of millions of investment money that was put on deposit at that bank. Their customers included billionaire technology investors and they served an extreme niche with an unusual risk profile – not everyday people with everyday needs. 

Mocse is financially sound and is classified as well capitalized. We have plenty of liquidity to meet the needs of our members, our community, and the credit union. 

Member deposits are insured up to $250,000 per ownership type by the National Credit Union Administration. It is possible to insure far beyond a total of $250,000 based on account relationships. For example, if you have a single membership savings account, and a joint savings account, each will be insured up to $250,000 for a total of $500,000. Our team at Mocse can help you get the most out of your insurance coverage.

As fellow members, our families bank here too. Mocse will remain the conservative, financially sound credit union we’ve been since the day our members created us in 1959. Please feel free to reach out with any questions or concerns you may have.

Shane Saunders
Mocse Credit Union