CREDIT UNIONS – SAFE AND SECURE

FROM THE NATIONAL CREDIT UNION ADMINISTRATION

The National Credit Union Administration (NCUA) is reminding credit union members of the safety of their deposits in federally insured credit unions.  The NCUA also reminds individuals to remain vigilant against COVID-19 scams.

Federally insured credit unions offer a safe place for credit union members to save money.  All deposits at federally insured credit unions are protected by the National Credit Union Share Insurance Fund, with deposits insured up to at least $250,000 per individual depositor.  Credit union members have never lost a penny of insured savings at a federally insured credit union.

Credit union members can calculate the amount of insured funds at a federally insured credit union using NCUA’s Share Insurance Estimator.  The Estimator can be found at www.ncua.gov and may be used for personal, business or government accounts.  Personal accounts include individual ownership, joint ownership, payable-on-death (account with named beneficiaries), living trusts and IRA’s.

The NCUA is also reminding individuals to remain vigilant against scams related to the coronavirus.  Cyber actors may send emails with malicious attachments or links to fraudulent websites to trick victims into revealing sensitive information or donating to fraudulent charities or causes.  Exercise caution in handling any email with a COVID-19 related subject line, attachment or hyperlink.  Also be wary of social media pleas, texts or calls related to COVID-19.

For more information, visit mystarusa.com or ncua.gov.