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Federally Insured
At FRSA Credit Union, we
understand that your money is important to you. To protect our
members, we provide share insurance coverage, which is offered
through the National Credit Union Administration (NCUA). As such,
your funds are federally insured for up to $250,000 or more and are
backed by the Full Faith and Credit of the United States Government.
$250,000 Share Insurance Protection
Extended
The Helping Families Save Their Homes Act of 2009, signed into law
May 20, 2009, includes a provision extending the $250,000 share
insurance coverage provided by the National Credit Union Share
Insurance Fund through December 31, 2013. Previously, this level of
coverage was set to expire December 31, 2009. Rest assured your
money is safe at FRSA Credit Union.
What coverage does the NCUA provide?
All individual standard share accounts are insured for up to
$250,000. This includes regular shares (savings account), share
drafts (checking accounts), money market accounts, and share
certificates (CDs).
What if I need Additional Coverage?
Your accounts are eligible to receive additional government account
insurance coverage. For example, accounts with named qualifying
beneficiaries receive up to $250,000 for each beneficiary designated
on the account. Another way to increase your coverage is by having a
joint account. Joint accounts without beneficiaries are insured
separately for $250,000 each. This means that a joint account
between two people is insured by the NCUA for $500,000.It is
important to note that joint accounts titled with the same owners
are insured aggregately to $250,000 regardless of how many different
accounts there are.
Enjoy peace of mind in knowing that no member has ever lost money
insured by NCUSIF.
Please let us know if you have any questions. |
