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Share Insurance Update:
The National Credit Union Administration (NCUA) has increased share insurance protection on all accounts to$250,000. This increase is effective immediately and remains in place until December 31, 2013.
The NCUA 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. For more information on your share insurance, please visit www.ncua.gov.
- With the passage of the Emergency Economic Stabilization Act of 2008, share accounts in federally insured credit unions are insured up to the Standard Maximum Share Insurance Amount (SMSIA), $250,000 as of October 3, 2008. To determine your insurance coverage, use the NCUA’s insurance estimator at www.ncua.gov/ins.
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