Your Deposits Are Insured Up To $500,000
05/13/2024
By: First Harvest
Did you know deposits at First Harvest Credit Union are insured up to $500,000 at no additional cost to members? Through a combination of federal insurance provided by NCUA and private insurance by the Excess Share Insurance (ESI) Corporation, members can feel safe and secure about their funds held at our institution.
We have been serving our communities for over 84 years with sound business practices and member-focused decisions. First Harvest Credit Union members can rest assured their deposits are safe. Below are some key points to keep in mind.
- We do not have shareholders. When you open an account, you become a member-owner along with all of our other members. It doesn’t matter if you have $5.00 or $500,000 in your account.
- Your money works for you - We are what’s called a "Not-for-profit financial cooperative." We exist to serve our members, not to make a profit. Surplus income gets returned to our members in the form of lower loan rates and fees, and higher interest rates on deposit accounts.
- First Harvest’s net worth ratio is well above 7%. The net worth ratio is used to assess the financial health of a credit union. Institutions with a net worth ratio of 7% or higher is considered to be a well-capitalized.
- Our members’ deposits are safe and secure. In addition to the deposit insurance provided by NCUA, First Harvest chooses to provide additional coverage through Excess Share Insurance (ESI) Corporation at no additional cost to our members. Learn More about our deposit insurance.
First Harvest continues to offer great rates and service to our members providing many options for account opening and maintenance. If you already have an account with First Harvest, you can easily move funds by initiating an ACH to you First Harvest account from another financial institution, set up direct deposit, utilize Mobile Deposit, or stop in to make a deposit. Members can also call us and our staff can help evaluate the best way to move their funds.
Interested in opening an account at First Harvest Credit Union? You can submit an application online or visit a branch for personalize service. Applicants can also call our First Harvest Direct Contact Center for account opening guidance.