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League Statement on Recent Bank Collapses

Mar 20, 2023
By Sammy Dennis
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The recent collapse of two regional banks has raised concerns regarding the soundness of the US banking system.

While this situation does not involve the collapse of a credit union, it is important to keep the following in mind.

  • All Wisconsin credit unions are federally insured and deposits there are safe and secure.
  • Credit union 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.
  • The Wisconsin Department of Financial Institutions recently issued its year end 2022 bulletin and found Wisconsin credit unions “continue to perform well based on the financial information reported at year-end 2022. Our credit unions started 2023 in a good position and are financially stable.”
  • Credit union members have never lost a penny of insured savings at a federally insured credit union.
Visit for more information about the National Credit Union Share Insurance Fund coverage for consumers.

About The Author

Sammy Dennis is The Vice President of Communications for The Wisconsin Credit Union League.