Your Money Is Safe With Us
In an uncertain economy, one thing you can be certain of is that your money is safe at your credit union. The federal government has increased insurance coverage on your savings to $250,000.
Savings in every federally insured credit union are backed by the National Credit Union Association (NCUA) with money in a fund maintained by the US Treasury. Federal insurance protects your money at your credit union held in share savings, share draft (checking), share certificate (CD), trust, and retirement accounts.
You have other safeguards as well. Your credit union operates with a safety net of capital. We also hold a reserve account to cover losses when members fail to repay loans.
Every credit union is examined regularly by either the NCUA or a state credit union government agency to make sure it’s engaging in safe and sound operations. Regulators hold credit unions to very high standards.
No matter how scary the financial news reports, the people at your credit union are looking out for you and your funds. You can be assured that your money is safe at your credit union.