Message from Carrie on Silicon Valley Bank

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Carrie To our members,

By now, you have probably heard the recent news regarding the sudden closure of Silicon Valley Bank. We are committed to helping our valued member-owners, like you, feel secure and supported in your banking relationship with Bay Federal Credit Union.
Bay Federal Credit Union is a community-based, member-owned financial institution with a mission of lending out the deposits from the membership back to the membership. You may rest assured Bay Federal Credit Union is considered financially sound and well-capitalized. The Credit Union’s balance sheet is primarily comprised of member auto loans and member real estate loans. Our investment portfolio is considered very safe by industry standards. All member accounts are insured up to $250,000 by the National Credit Union Share Insurance Fund.
Bay Federal Credit Union is committed to serving our members today and well into the future. We sincerely appreciate the trust you have placed in us and thank you for your dedication to your credit union! If you have any questions at all, please reach out by visiting one of our branches or by calling our Member Service Center at 831.479.6000 or 888.4BAYFED, option 3.

Carrie L. Birkhofer

Carrie L. Birkhofer
President and CEO
Bay Federal Credit Union

Silicon Valley Bank Closure FAQ

  • What happened with the Silicon Valley Bank closure?

  • Could something like this happen to Bay Federal Credit Union?

  • What assurances do I have about Bay Federal’s ability to stay in business?

  • What happens to my money if something happens to Bay Federal Credit Union?

  • What do I have to do to ensure I am covered by NCUSIF?

  • I have multiple accounts with Bay Federal. How do I know if those accounts are all covered?

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