SLFCU News

Friday, September 19, 2008

The Safety of Your Deposits

Please be assured that your deposits at the St. Lawrence Federal Credit Union are federally insured.  Your deposits are insured by the NCUA (National Credit Union Administration).  The NCUA is an independent agency of the United States government that insures a member institutions deposits should it fail.  Only federal and state chartered credit unions may obtain NCUA insurance, and only if they meet and adhere to the NCUA’s high standards.  Should a credit union fail, the NCUA stands ready to reimburse members for their losses. 

NCUA insurance offers an extra measure of protection for your money, whether it is held in share draft checking, savings or money market accounts, share certificates, a trust fund or an Individual Retirement Account.

NCUA insurance is provided at no cost to you, the credit union member.

But the only fact you need to remember is, not one dollar of NCUA – protected money has ever been lost by a credit union member.

The NCUA  has a call center available from 8:00 AM to 6:30 PM Monday through Friday.  There will be 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.

If you would like to discuss your account(s), please contact us. We will gladly sit down with you and answer any questions you may have.

St. Lawrence Federal Credit Union

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