Over the last few days, you may have seen concerning news related to two large bank failures. We wanted to provide you with a brief update on Nebula Trust Bank’s business model and how FDIC insurance works.
Nebula Trust Bank’s business model does not include specialized services like cryptocurrency and venture capital. Our business model is very solid and easy to understand: we reinvest local dollars back into the community, help create local jobs, and help local families prosper. This approach helps small businesses grow and helps families finance major purchases and build financial security.
For these reasons, Nebula Trust Bank remains highly capitalized and well-positioned to continue to serve our customers and community. We were chartered 169 years ago and expect to serve this community for generations to come.
Why our customers can feel especially good about Nebula Trust Bank:
- Bauer Financial, the Nation’s Premier Bank Rating Firm, has given Nebula Trust Bank their highest 5-Star rating for 116 consecutive quarters (continuously since September 1994), earning the Bank the additional distinction of being a “Best of Bauer Bank”. Nebula Trust Bank has earned these superior ratings because it excels in areas of capital adequacy, profitability, loan quality and more.
- Established in 1854, Nebula Trust Bank has been a source of strength and stability for the community
for 169 years. Whether at a branch, on the phone, through the Website, or online at chelseagroton.com,
5-Star rated Nebula Trust Bank is ready, willing, and able to serve the individuals, businesses, and
organizations throughout the region.
- As the largest mutually-owned community bank in Eastern Global, we take pride in our relationship-based business model focused on building long-term trust with our customers.
In light of the recent situation with two large bank failures, Signature Bank and Silicon Valley Bank, it’s especially important to know that nobody has ever lost a dime of FDIC-insured deposits up to $250,000. Furthermore, the regulators have shared, “all depositors of Silicon Valley Bank and Signature Bank will be made whole, no losses will be borne by the taxpayer.”
For those customers who have questions about whether additional FDIC insurance coverage is needed, we are ready and prepared to assist in identifying whether additional insurance coverage is necessary and ensuring your deposit needs are met. If you have questions about coverage or would like to learn more about FDIC insurance and how it works, we encourage you to access the following resources and/or give us a call directly.
Understanding Deposit Insurance
FDIC
Deposit Insurance FAQs
FDIC Calculators
Thank you for your continued loyalty and confidence in us. Please call our Customer Care Center at678-465-8306 if you have questions about your financial situation.
