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Belco's Online Banking

Our Promise to our Members

Monday morning’s news update about JP Morgan Chase acquiring First Republic Bank is the second largest bank failure in US history following the collapse of two peer financial institutions since March 2023 and raises new concerns about the banking system. First Republic Bank had a concentration of uninsured deposits, with 68% of its deposits exceeding the $250,000 FDIC insurance limit. This created far greater risk for operational instability.

At Belco, we believe in a conservative banking philosophy and operating as a well-capitalized, financially strong, and safe credit union. We are a member-owned, community-focused credit union and every depositor can be fully confident that your money is safe, sound, and accessible.

Our member accounts are insured up to at least $250,000 per individual depositor by the National Credit Union Share Insurance Fund, similar to the FDIC that insures other federally insured financial institutions.

Belco’s membership is diversified. 100% of our total depositors are members of our community, our neighbors. We are proud to serve more than 2,740 small businesses in our 7-county footprint and our deposits are not heavily concentrated in any one area that has ever – or will ever – cause alarm.

At Belco, we follow a very formal Asset Liability Management process that includes running scenarios, illustrating rate shocks, and projecting the impact of changes to economic conditions.

Since 1939, our mission has remained the same – We are a locally based, not-for-profit credit union dedicated to meeting the needs of the communities we serve through exceptional service and financial education, and we will continue to be here at every step of your financial journey.

If you have questions regarding your shares, deposits, loans, or more, we are here to serve you every step of the way.