A Message from Telhio's President
Members of Telhio,
It is understandable that you may have concerns about current economic conditions surrounding the news of recent bank failures. Rest assured, Telhio is financially sound, well-capitalized, and extremely focused on the strength of our balance sheet.
We want you to know that there are several reasons why credit unions are generally considered to be a safe and reliable option for banking.
Firstly, credit unions are not-for-profit organizations that are owned by their members. This means that we are not focused on making profits for shareholders, but rather on providing benefits and services to you, our members. Credit unions have a strong track record of financial stability. We're subject to strict regulatory oversight and are required to maintain sufficient capital reserves to cover any losses.
Secondly, Telhio is federally insured by the National Credit Union Administration (NCUA). This means that deposits up to $250,000 are insured, just like FDIC insurance for banks. Telhio members also have additional coverage up to $250,000 provided to consumer account holders by Excess Share Insurance Corporation, a licensed insurance company, for a total of $500,000 in coverage on your personal accounts.
operates with the utmost transparency and believes our members should have
access to the information they need - a key reason why we post monthly
financials in our branches. We are here to answer any questions that you may
have, just as we have been since 1934. We value your membership and
appreciate you doing business with us.
Telhio Credit Union
Our members enjoy the assurance of knowing their accounts are safe.
When you join Telhio, your funds are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the United States government.
Additionally, consumer (non-business) account holders have access to an additional $250,000 of insurance through the Excess Share Insurance Corporation (ESI), a licensed insurance company, for a total of up to $500,000 in account insurance.