NOTICE OF EXPIRATION OF THE TEMPORARY FULL NCUSIF SHARE INSURANCE COVERAGE FOR NON-INTEREST BEARING TRANSACTION ACCOUNTS:

By operation of federal law, beginning January 1, 2013, funds deposited in a non-interest bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited share insurance coverage by the NCUA. Beginning January 1, 2013, all of a member's accounts at an insured depository institution, including all non-interest bearing transaction accounts will be insured by the NCUSIF up to the standard maximum share insurance amount ($250,000), for each share insurance ownership category.

 

Your savings is federally insured to at least $250,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency, and backed by the full faith and credit of the United States Government.

Federally-insured credit unions offer a safe place for you to save your money, with deposits insured up to $250,000 per individual depositor. The National Credit Union Administration (NCUA) is the independent agency that administers the National Credit Union Share Insurance Fund (NCUSIF). Like the FDIC's Deposit Insurance Fund, the NCUSIF is a federal insurance fund backed by the full faith and credit of the United States government.

The NCUSIF insures member savings in federally-insured credit unions, which account for about 98 percent of all credit unions in the United States. Deposits at all federal credit unions and the vast majority of state-chartered credit unions are covered by NCUSIF protection.

 

Information booklets containing detailed information on the NCUSIF deposit insurance are available at the Credit Union, or you may call the NCUA Insurance Call Center from 8 a.m. to 6:30 p.m. (EDT), Monday-Friday, at 1-800-755-1030, extension 1, with any questions you have regarding coverage.

Read more from the National Credit Union Association.

 

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