Your credit union accounts are safe, insured
Credit unions remain a safe harbor for your savings and other accounts. Thanks to federal insurance, members' shares are backed by the full faith and credit of the U.S. Treasury.

 

All Mississippi credit unions are insured by the National Credit Union Share Insurance Fund

Credit Unions: click here for  NCUSIF resources.

(NCUSIF), which insures savings up to $250,000 (through 2013) per account . Certain retirement accounts such as IRAs and Keoghs benefit from additional coverage.  In the history of the NCUSIF, not one penny of insured savings has ever been lost by a member of a federally insured credit union.

 

In fact, in today's tough economic environment, there is no better time to be a credit union member!

 

One of the biggest differences in credit unions versus other financial institutions is that credit unions are not-for-profit financial cooperatives.  They are local and owned by their member-owners.  That means credit unions value people over profit.

  

The Credit Union National Association estimates credit union members in Mississippi received over $76 million in direct financial benefits in 2007--equivalent to $126 per member -- through lower loan rates, higher saving rates, and fewer fees than other financial institutions.

 

To learn more about why credit unions remain a safe place for your money, visit www.creditunion.coop and use the “America’s Credit Unions: Secure, Strong” information.

 

To determine how much of your savings at your credit union is covered by federal insurance, use the NCUA Share Insurance Estimator found at http://www.ncua.gov/Resources/ShareInsuranceToolKit.aspx.