Don't let the latest news about bank seizures put you in a panic. Your deposits are very secure at Bourns EFCU.

Here's why:

1. As a financial cooperative, we answer solely to our member/owners - people just like you who work hard to provide for their families. We protect and look after your interests, not those of independent stock holders. We are a not-for-profit cooperative with a Board of Directors elected by you and other members.

2. Although we participate in the real estate market, we have not made sub-prime loans. We have not lowered our underwriting standards and always get full documentation support for borrowers' income and employment. We are interested in sustainable home ownership and work to ensure that our borrowers are stable for the long-term.

3. Bourns EFCU has more than twice the amount of capital (14%) required  for the highest rating from our primary regulator, the National Credit Union Administration (NCUA) (6%).

4. In addition, because we are a Federal Credit Union, we are required to hold more capital than a bank. Banks insured by the FDIC are only required to hold 3% capital.

5. Your regular savings are insured for up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF) which is backed by the full faith and credit of the U.S. Government. Not one cent of taxpayer funds has ever been used to bail out a credit union. For more information about this coverage, use the Share Insurance Estimator from the NCUA

6. Your IRA savings are insured separately for up to $250,000 by the NCUSIF which is backed by the full faith and credit of the U.S. Government.

7. The NCUSIF is better capitalized than the FDIC because it has had fewer, smaller losses than the FDIC historically, and because the size of most credit unions is smaller than most banks. For more information about share insurance, please visit the NCUA's website at www.ncua.gov. Follow links for consumer information. Your Insured Funds (pdf) brochure.

8. In addition to the primary insurance, we offer an additional $250,000 of insurance protection for your savings above that offered by the NCUSIF. Excess Share Insurance is provided by American Share Insurance (ASI), a private insurer. For more information about ASI, please visit their website at www.americanshare.com. Follow links for consumer information.

If you'd like to know more about the good things that credit unions do, please visit www.creditunionswork.org or www.creditunion.coop

For more information, email, call toll free at 1-877-426-8767 x 2, locally at 951-781-5600, or fax 951-781-5452. Office hours: 9:00 AM PST to 4:30 PM PST, Monday - Friday.

Please note that your message will be sent via normal e-mail, and is not encrypted. Please do not include any sensitive information such as account numbers through email. This email should only be used for general questions or comments.