The closing of IndyMac Bank and the resulting media reports about FDIC coverage are raising questions about credit union insurance coverage in Missouri.
MECE Credit Union wants to assure you that your money is safe in a credit union. Since 1970, credit unions have been federally insured through the National Credit Union Share Insurance Fund (NCUSIF), an arm of the National Credit Union Administration. The U.S. government backs this fund with full faith and credit just as it does the FDIC. NCUSIF provides the same amount of coverage for credit unions as the FDIC does for banks: up to $250,000 per depositor (until December 31, 2009 and will then be reviewed) and additional coverage of up to $250,000 per depositor for other types of accounts, such as IRAs.
For more information about your account’s coverage, contact your credit union or see the NCUA’s insurance estimator at: http://webapps.ncua.gov/ins/
Learn more about:
Your Insured Funds
http://www.ncua.gov/Publications/brochures/insured_funds/funds.pdf
|
