Your Insured Funds

Despite online chatter and rumors, our members made a strong choice by being part of the not-for-profit, cooperative Credit Union Movement. 

It’s important to know the differences between credit unions and banks and the FDIC and National Credit Union Administration (NCUA). Credit union structure prioritizes your financial security and remains accountable to you—not external investors or stockholders.

 Unlike banks, which are owned by stockholders and driven by profit, credit unions are member-owned, not-for-profit cooperatives. This structure ensures that our decisions are always made in the best interests of our members.

 During times of uncertainty, credit unions remain strong because they operate with a focus on stability, security, and responsible financial practices—not risk-driven motives.

  • Your Funds Are Safe: We understand recent media coverage and social media discussions may be causing concern, but rest assured, your funds at Great NorthWest Federal Credit Union are safe and secure. Credit union deposits are not regulated by the FDIC; they are federally insured by the NCUA up to $250,000 per account.  

  • FDIC and Credit Union Insurance Are Separate: The FDIC insures deposits in banks, while credit unions like ours are covered by the NCUA. The NCUA provides the same level of protection for your deposits, ensuring that your money remains secure. 

  • Why Credit Unions Are Safe: Credit unions are fundamentally different from banks. We are not-for-profit cooperatives, meaning our priority is you, the member. We maintain conservative financial practices and meet or exceed all regulatory requirements to ensure safety and soundness. 

  • Strong and Stable Operations: Great NorthWest Federal Credit Union is well-capitalized and well-positioned to serve your financial needs. Whether it’s saving for the future or borrowing for life’s milestones, you can rely on us to safeguard your hard-earned money. 

  • Addressing Misconceptions: Despite recent social media chatter, there is no credible plan to eliminate deposit insurance protections. Both the NCUA for credit unions and FDIC for banks remain robust systems in place to protect consumers like you. 

Thank you for your membership!

Karla Peterson