Card Scam (Updated 11/20/09)
President's Letter (Updated 3/23/09)

During this time of economic turmoil I want to reiterate the fact that your funds on deposit with the Credit Union are safe and secure.  Although we are a state chartered institution, your deposits are federally insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF) and backed by the full faith and credit of the U.S. Government.  Note, too, that no credit union member has ever lost one penny of federally insured funds.

As an added point to stress our safety and soundness, I want you to be aware that our Credit Union is very well capitalized. As an industry, the average credit union capital-to-asset ratio is more than 10%, while Viriva Community Credit Union's is even higher, at 12.2% as of 2/28/09. This is considerably higher than the 7% industry standard for being 'well-capitalized' and higher than the banking industry's average of roughly 9%.

The bottom line for you, our member, is that your deposits are safe and that, regardless of regulatory actions against other credit unions and banks, our business operations will continue to run as usual.  In fact, unlike other financial institutions, we have plenty of money to lend, so now is a great time for you to consider doing so.  With our interest rates recently being lowered you might want to consider refinancing your first and/or second mortgage, vehicle loan and/or credit card debt obligations.  We would be happy to quote payments and terms and work with you to reduce your present financial burden.   Simply give us a call at your convenience. 

I do have one word of caution for you, however, as we're starting to see an increase in fraud scams by individuals playing on peoples' fears.  Note that we would never send you an e-mail or call you and request that you provide us with any personal information, such as name, date of birth, social security number, debit/check/credit card number and/or PIN.  Such requests should be an automatic red flag, raising cause for concern and further scrutiny.

On behalf of myself, our volunteer Board of Directors and our staff, I would like to thank you for your membership at Viriva Community Credit Union, Your Financial Partner...for life.  For additional information on the security of your funds, please visit our website, under Education.







Jim McCaw, President/CEO

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Share Insurance Coverage

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Card Scam

Please note that a card scam has recently been reported to the Credit Union.  All Viriva members should be aware that the Credit Union would never e-mail, call, or contact you regarding your account and ask for detailed personal information.  In the recent scam reported, cardholders are being contacted and informed (via cell phone text message) that their card has been deactivated and will need to call the number provided (in the text message) to reactivate their credit card account.  

Once the phone number is called, cardholders are asked to enter their card number and the security code located on the back of their card.
   
Please be advised that the accurate contact information for the Credit Union can always be found on our Contact Us page.  If you have received this scam, or feel that your card information may be compromised, please contact our Phone Center immediately.