Your Money is Safe

Person's hand holding a Linn Area card near an ATM

Your money is safe and insured

In these uncertain times, have complete confidence in the security of Linn Area Credit Union. We remain financially strong, well-managed, and well-capitalized, and we’ve been serving our communities since 1935.

We recognize that some members feel the desire to withdraw large sums of cash during this crisis. This action is unnecessary, though, and can be harmful from an economic standpoint. Unlike the financial crisis of the Great Depression or the 2008 mortgage bubble, the COVID-19 (Coronavirus) pandemic is not a systemic banking problem. There is no problem with the credit or debit systems or with the financial security of Linn Area Credit Union.


Your deposits are Federally Insured by NCUA

All deposits at Linn Area Credit Union are federally insured up to $250,000 by the National Credit Union Administration. The NCUA is an independent agency of the United States government that regulates, charters, and supervises credit unions, all while closely monitoring their financial resources and fiduciary management. In the entire history of credit unions, members of federally insured credit unions have never lost insured deposits. (Not ONE penny!)


Keeping your money safely accessible

Pulling large sums of cash out of your account is not safe. It puts your finances at risk. (If your cash is lost or stolen, there’s no way to replace it!) It’s better to take cash out when you need it, as you need it. We offer many ways to manage your funds and withdraw cash 24/7/365, including online banking, mobile banking, ATMs, and debit cards.

Plus, if you withdraw a bunch of cash, you lose the interest income it generates when it’s safely tucked away in your Linn Area Credit Union checking or savings account. Even more so if your savings are in a money market account or a Certificate of Deposit (CD), since they generally earn interest at higher rates. And if you close out a CD, not only will you lose earned interest income, you may also have to pay early withdrawal penalties. (Yeah, that’s double whammy.)


We’re here for you

We realize that we, as a community, are facing unprecedented times. As your credit union, we are doing our absolute best to protect the health and financial interests of our members. We all face difficult decisions with this crisis. Where you decide to keep your money protected and accessible is a decision that is totally up to you, and we respect that. Our responsibility as a trusted, caring financial organization is to give you the best advice we can. We aim to live our mission: To be partners in a successful future with our members and employees by providing caring financial services and community support. We always do our best to support our members, our employees, and our community!