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We do business in accordance
with the Federal Fair
Housing Laws and the Equal
Credit Opportunity Act.
with the Federal Fair
Housing Laws and the Equal
Credit Opportunity Act.
We never forget:
"Our #1 reason is you"
"Our #1 reason is you"
For lost or stolen Visa CREDIT
Cards, contact 1-800-808-7230.
For lost or stolen Visa DEBIT Cards,
contact 1-800-554-8969.
Cards, contact 1-800-808-7230.
For lost or stolen Visa DEBIT Cards,
contact 1-800-554-8969.
Your shares in San Tan Credit Union are insured by the National
Credit Union Share Insurance Fund (NCUSIF), an arm of NCUA.
Established by Congress in 1970 to insure member share accounts
at federally insured credit unions, the NCUSIF is managed by NCUA
under the direction of the three-person NCUA Board. Your share
insurance is similar to the deposit insurance protection offered by
the Federal Deposit Insurance Corporation (FDIC).
No credit union may terminate its federal insurance without first
notifying its members.
Here are some important facts to remember about your share
insurance:
Not one penny of insured savings has ever been lost by a member of
a federally insured credit union. The federal insurance fund has
several programs to help insured credit unions which may be
experiencing problems. Liquidations or failures are a last resort. If a
federally insured credit union does fail, however, the NCUSIF will
make any necessary payouts to the credit union’s members. These
payouts are usually done within 3 days from the time the credit union
closes its doors.
As a member of an insured credit union, you do not pay directly for
your share insurance protection. Your credit union pays into the
NCUSIF a deposit, and an insurance assessment, based on the
total amount of insured shares and deposits in the credit union.
Insured credit unions are required to deposit and maintain one
percent of their insured shares and deposits in the NCUSIF. The
NCUSIF is backed by the full faith and credit of the United States
government.
Most properly established share accounts in federally insured credit
unions are insured up to the Standard Maximum Share Insurance
Amount (SMSIA). Recent legislation has increased the insurance
coverage on accounts up to $250,000. Generally, if a credit union
member has more than one account in the same credit union, those
accounts are added together and insured in the aggregate. There
are exceptions, though. You may obtain additional separate
coverage on multiple accounts, but only if you have different
ownership interests or rights in different types of accounts and you
properly complete account forms and applications. For example, if
you have a regular share account and an Individual Retirement
Account (IRA) at the same credit union, the regular share account is
insured up to $250,000 and the IRA is separately insured up to
$250,000. However, if you have a regular share account, a share
certificate, and a share draft account, all in your own name, you will
not have additional coverage. Those accounts will be added
together and insured up to $250,000 as your individual account.
Roth IRAs will be added together with traditional IRAs and insured
up to $250,000.
Additional coverage is available on revocable trust or payable on
death accounts. You can now name a parent or sibling as a
beneficiary to get separate coverage. Previously, beneficiaries had
to be a spouse, child or grandchild.
The rules on joint accounts have been simplified. A co-owner’s
interest in all joint accounts in the same credit union will be added
together and insured up to the SMSIA.
For more information, please visit the NCUA Share Insurance
Estimator on the NCUA.gov website or contact us here at your credit
union..
Credit Union Share Insurance Fund (NCUSIF), an arm of NCUA.
Established by Congress in 1970 to insure member share accounts
at federally insured credit unions, the NCUSIF is managed by NCUA
under the direction of the three-person NCUA Board. Your share
insurance is similar to the deposit insurance protection offered by
the Federal Deposit Insurance Corporation (FDIC).
No credit union may terminate its federal insurance without first
notifying its members.
Here are some important facts to remember about your share
insurance:
Not one penny of insured savings has ever been lost by a member of
a federally insured credit union. The federal insurance fund has
several programs to help insured credit unions which may be
experiencing problems. Liquidations or failures are a last resort. If a
federally insured credit union does fail, however, the NCUSIF will
make any necessary payouts to the credit union’s members. These
payouts are usually done within 3 days from the time the credit union
closes its doors.
As a member of an insured credit union, you do not pay directly for
your share insurance protection. Your credit union pays into the
NCUSIF a deposit, and an insurance assessment, based on the
total amount of insured shares and deposits in the credit union.
Insured credit unions are required to deposit and maintain one
percent of their insured shares and deposits in the NCUSIF. The
NCUSIF is backed by the full faith and credit of the United States
government.
Most properly established share accounts in federally insured credit
unions are insured up to the Standard Maximum Share Insurance
Amount (SMSIA). Recent legislation has increased the insurance
coverage on accounts up to $250,000. Generally, if a credit union
member has more than one account in the same credit union, those
accounts are added together and insured in the aggregate. There
are exceptions, though. You may obtain additional separate
coverage on multiple accounts, but only if you have different
ownership interests or rights in different types of accounts and you
properly complete account forms and applications. For example, if
you have a regular share account and an Individual Retirement
Account (IRA) at the same credit union, the regular share account is
insured up to $250,000 and the IRA is separately insured up to
$250,000. However, if you have a regular share account, a share
certificate, and a share draft account, all in your own name, you will
not have additional coverage. Those accounts will be added
together and insured up to $250,000 as your individual account.
Roth IRAs will be added together with traditional IRAs and insured
up to $250,000.
Additional coverage is available on revocable trust or payable on
death accounts. You can now name a parent or sibling as a
beneficiary to get separate coverage. Previously, beneficiaries had
to be a spouse, child or grandchild.
The rules on joint accounts have been simplified. A co-owner’s
interest in all joint accounts in the same credit union will be added
together and insured up to the SMSIA.
For more information, please visit the NCUA Share Insurance
Estimator on the NCUA.gov website or contact us here at your credit
union..
Share Insurance Limit
Raised to $250,000
Raised to $250,000
