Dear Members,

For over 60 years, SMW 104 Federal Credit Union (SMW104 FCU) has proudly and exclusively served the local 104 Union members and their families. The Silicon Valley Bank recent event is unfortunate yet does not represent or impact your Credit Union’s financial posture. SMW 104 FCU is financially stable, safe, and sound. The Credit Union is highly regulated by the National Credit Union Administration (NCUA) and your deposits are federally insured to at least $250,000, and backed by the full faith and credit of the United States Government.

The most recent exam, dated 9/30/2022, confirmed the Credit Union has adequate liquidity, is resilient, and is financially stable with a Net Worth Ratio in excess of 8.40%, which is considered to be “well capitalized” by the regulator.

Please feel free to contact me directly if you have any questions.

Sincerely, 
Sherry Javad