Embold Federal Credit Union Customer Reviews, Frequently Asked Questions, Rates, Branches, Related Articles, and Financial Summary - 2024 (2024)

FAQs

Who is Embold Credit Union? ›

Embold Credit Union is a local, member-owned, not-for-profit financial cooperative. That means when you join Embold, you become a member and an owner.

Yes. We provide a full-service banking experience, with savings and checking accounts and a complete array of lending products, including first mortgages. We're federally insured by NCUA, which protects your money up to $250,000. That's the same amount protected by the FDIC in an account at a bank.

Enter the credit union's name and check the "Charter State" field. If the field says “CA,” your credit union is chartered in California. That means it is regulated by, and complaints can be filed with the California Department of Financial Protection and Innovation or DFPI.

Credit unions are owned and controlled by the people, or members, who use their services. Your vote counts. A volunteer board of directors is elected by members to manage a credit union.

No, the Federal Deposit Insurance Corporation (FDIC) only insures deposits in banks. Credit unions have their own insurance fund, run by the National Credit Union Administration (NCUA). The National Credit Union Administration is a US government agency that regulates and supervises credit unions.

NCUA also operates and manages the National Credit Union Share Insurance Fund (NCUSIF). Backed by the full faith and credit of the U.S. government, the NCUSIF insures the accounts of millions of account holders in all federal credit unions and the vast majority of state-chartered credit unions.

Just like banks, credit unions are federally insured; however, credit unions are not insured by the Federal Deposit Insurance Corporation (FDIC). Instead, the National Credit Union Administration (NCUA) is the federal insurer of credit unions, making them just as safe as traditional banks.

Credit unions tend to have fewer branches than traditional banks. A credit union may not be close to where you live or work, which could be a problem unless your credit union is part of a shared branch network and/or a large ATM network such as Allpoint or MoneyPass. May offer fewer products and services.

Is my money safer in a credit union than a bank? ›

Generally, credit unions are viewed as safer than banks, although deposits at both types of financial institutions are usually insured at the same dollar amounts. The FDIC insures deposits at most banks, and the NCUA insures deposits at most credit unions.

Experts told us that credit unions do fail, like banks (which are also generally safe), but rarely. And deposits up to $250,000 at federally insured credit unions are guaranteed, just as they are at banks.

Liquidity Risk: The risk of not having sufficient liquid assets to meet the credit union's short-term obligations, which could impact its ability to function effectively and serve its members. Interest Rate Risk: Credit unions often have a significant portion of their assets and liabilities tied to interest rates.

First, bankers believe it is unfair that credit unions are exempt from federal taxation while the taxes that banks pay represent a significant fraction of their earnings—33 percent last year. Second, bankers believe that credit unions have been allowed to expand far beyond their original purpose.

Over the past decade, the number of credit unions has declined by 30 percent, but the amount of credit union assets has more than doubled, from $1.02 trillion to $2.17 trillion.

1. Meantime, the credit union said it is expanding into Multnomah, Marion, Washington, Polk and Yamhill counties. The new moniker reflects the credit union's expanded reach, and it's meant to dispel confusion.

What is the annual revenue of Embold Credit Union? The Embold Credit Union annual revenue was $24 million in 2024.

With more than $2 billion in assets, the Credit Union is an independent financial institution, owned and operated by its membership, chartered by the state of Missouri and federally-insured by the National Credit Union Administration (NCUA).

Understanding banks

Unlike credit unions, banks are for-profit institutions. National banks like JP Morgan Chase and Bank of America are publicly traded, meaning they have shareholders, and their shares are traded on the stock market. Banks also offer deposit accounts and loans, including options for business owners.