With Friday’s collapse of Silicon Valley Bank, our members may be concerned about the security of their finances. We know and understand there can be uncertain and challenging times in the banking industry. However, have no doubt, the leadership at Kingsport Press Credit Union is always working on behalf of you, the member, to ensure you have access to financially safe services and products. You can be assured that your money is safe at our credit union.
Kingsport Press Credit Union was chartered ninety-three years ago, and we are committed to serving our community then and now. We have an experienced team to serve you and answer any questions or concerns. For further reassurance, here is some information about credit unions:
- Tennessee credit unions have been operating in the state for 100 years – since 1923. Tennessee credit unions are well-capitalized and have a safe, diverse lending portfolio.
- Credit unions are not-for-profit, member-owned cooperatives locally owned and controlled by the membership.
- The board of directors is elected from the membership, so governance comes from the member-owners.
- Federally insured credit unions offer a safe place for credit union members to save money. Deposits in federally insured credit unions are safe and secure. Your deposits are protected by the National Credit Union Share Insurance Fund and insured up to at least $250,000 per individual depositor—the same as any other federally insured financial institution.
- Credit union members have never lost a penny of insured savings at a federally insured credit union.
As a credit union member at Kingsport Press Credit Union, you are an owner of our not-for-profit financial cooperative. Our first priority is your financial success, and we focus on financial security. We only do business with our members. We reflect our member needs and tailor our offerings for you.
For additional resources:
- Please visit our website at kpcu.org or call 423-378-9292 with any questions. Again, your money is safe and secure at our credit union and is protected up to $250,000 per individual depositor.
- You can visit MyCreditUnion.gov for more information about the National Credit Union Share Insurance Fund coverage for consumers.
- In addition to our credit-union-specific resources, you can find more information about the credit union difference on the Credit Union National Association’s Advancing Communities website: advancingcommunity.com.