With the well-publicized turmoil in the financial markets, Idadiv wants our members to know the federally insured funds in their credit unions are safe up to the insured limits. The Congress just passed legislation that raises the amount insured to $250,000 per account.
To help you understand how this insurance works, the National Credit Union Administration (NCUA) has opened the NCUA Insurance Call Center, operating from 8 a.m. to 6:30 p.m. (EDT) Monday through Friday, with insurance experts available to answer questions about the coverage provided by NCUA share insurance. The toll-free Insurance Call Center number is 1-800-755-1030, extension 1.
The NCUA also has an electronic tool kit online at http://www.ncua.gov/ShareInsurance/Index.htm, that contains a variety of useful information on share insurance coverage including:
· Insurance estimator enables calculating an estimate of share insurance coverage;
· Your Insured Funds brochure details insurance coverage, with many examples;
· How Your Accounts Are Federally Insured brochure provides basic insurance information;
We encourage you to utilize the Call Center and the electronic tool kit to the fullest extent possible
The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of nearly 89 million accounts in all federal credit unions and the overwhelming majority of state-chartered credit unions.
Posted by idadivcu 