Message from our President & CEO

Advancial remains strong and secure

Message from our President & CEO

Advancial remains strong and secure

Recent financial industry news has highlighted the failures of Silicon Valley Bank and Signature Bank as the second and third largest failures, respectively, since 2008. As many people wonder if their deposits are safe, I want to be clear that what happened over the weekend is the result of two institutional failures because of their poor management of assets and liabilities. Silicon Valley Bank was heavily concentrated in startup companies and venture capital firms, while Signature Bank was heavily focused on banking crypto companies. These niche business models are not representative of most banks and credit unions in the U.S. financial system.

Advancial is Well-Capitalized, Safe & Secure

Advancial receives high rankings annually from its regulators for safety and soundness practices and management of risk. Advancial is above the threshold to be considered very well capitalized by the National Credit Union Administration (NCUA). We maintain a conservative balance sheet focused on traditional core deposit and loan relationships with our members. We adhere to sound, conservative investment practices and have no exposure to high-risk investments such as heavy tech funding, cryptocurrency assets or international investments.

YOUR MONEY IS INSURED AT ADVANCIAL

All Advancial member deposits are protected by the National Credit Union Share Insurance Fund and insured up to at least $250,000 per depositor – the same as any other federally insured financial institution. Many of our members enjoy substantially higher coverage levels through different account types and/or ownership types. If you would like to learn more about maximizing your coverage, please contact us to discuss your individual situation or you can utilize the Share Insurance Estimator available to you at mycreditunion.gov.

BEWARE OF SCAMMERS

Remember that scammers follow the headlines, so please remain aware of suspicious calls or emails. There have already been reports of scammers communicating that a bank or credit union is under Federal Bureau of Investigation (FBI) review and the person needs to take out their cash from their bank or credit union or risk losing it. If you receive this call, please hang up. Advancial is not under review by the FBI or any other government agency.

Safeguarding Your Money Is And Will Always Be Our Top Priority

Rest assured - we will remain vigilant in honoring the trust you have placed in Advancial by continuing to operate in a safe, sound and secure manner. If you have any questions, do not hesitate to contact us. We always welcome the opportunity to answer questions members have about Advancial’s operations or performance.

Sincerely,

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We do business in accordance with the Federal Housing Law and the Equal Opportunity Act.

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Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States government.

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