Valued Member,

With all of the recent difficult news and uncertainty of the last few days regarding the bank failures of Silicon Valley Bank (SVB) and Signature Bank, I wanted to reassure each of you that Homeland Credit Union is a safe, sound, and strong organization.  Our cooperative ownership model is very different than these institutions and it is one where we invest in you, our member with low interest rate loans, low cost financial services, and pay higher dividends.  We do not use our member funds to speculate in highly leveraged or risky investment products and we do not provide funding for high-risk start-ups, venture capital projects, or to support the cryptocurrency market.  We are in a very strong financial condition with a strong balance sheet, excellent liquidity, and a net worth ratio that is one of the very highest in the state of Ohio.

In addition, to the overall health and strength of Homeland Credit Union, your deposits are insured up to $250,000 by the National Credit Union Administration (NCUA), which is the U. S. Government Agency charged with protecting and insuring credit union depositors.  Homeland Credit Union also has additional deposit insurance coverage through the private share insurance fund - Excess Share Insurance, Inc. (ESI).  For a single ownership account, that means your total insured deposit balance could be $500,000.  If you have a jointly owned account, your overall insurance coverage would be $1,000,000. For any additional details on how you can structure your deposits to ensure you have NCUA and ESI insurance, please contact us.

Since 1932, Homeland Credit Union has been a financial organization with your best interest at heart. We have had a longstanding tradition of service, trust, security, and financial strength that you can rely upon at all times.  We thank you for your membership and loyalty.

Should you have any questions or want to discuss any of these recent banking industry issues with us, please call.


Shayne R, Poe, CEO

Homeland Credit Union, Inc.