The National Credit Union Administration, NCUA and the Massachusetts Share Insurance Corporation, MSIC, provide our members with the highest level of deposit protection available.
Protecting your savings with the highest level of security available is a priority at STCU Credit Union.
With all the media attention being given to concerns about today’s economy, we want to let you know of a great way to protect your savings. As a member of STCU Credit Union, your deposits are covered by two of the nation’s strongest insurers: the National Credit Union Administration (NCUA) and the Massachusetts Credit Union Share Insurance Corporation (MSIC)
NCUA and MSIC’s share insurance coverage provide our members with the highest level of protection available.
STCU Credit Union enjoys the safety and security of federal deposit insurance through the NCUA. The National Credit Union Share Insurance Fund (NCUSIF), an arm of the NCUA, is very similar to the FDIC for banks. Your coverage at STCU Credit Union through the NCUA means that your deposits are protected up to $250,000.
Not all financial institutions are created equal. STCU Credit Union is different. Your excess shares and deposits above the NCUA coverage, up to the protected limits, are also insured. The Massachusetts Credit Union Share Insurance Corporation (MSIC) provides you, our members, with additional excess deposit insurance.
Rest easy knowing your funds, up to the protected limits, are insured by MSIC. Since 1961, MSIC has been insuring funds at credit unions across the Commonwealth. During that time, no credit union member has ever lost even a penny of their savings.
Excess Insurance eliminates the stress of structuring accounts to ensure that your deposits are protected. With Excess Share Insurance, your funds can be protected in one place, keeping you from running around town every time you want to make a transaction.
STCU Credit Union provides this added protection of excess deposit insurance to you automatically and at no extra cost to you, a benefit that adds tremendous value to your membership.
If you have concerns about share insurance, do not hesitate in contacting us or visit www.MSIC.org or www.NCUA.gov. If you would like information about membership with us, please contact STCU Credit Union directly.
