Savings Insurance
 National Credit Union Share Insurance Fund
The savings in your credit union are insured by the National Credit Union Share Insurance Fund (NCUSIF), an arm of the National Credit Union Administration (NCUA). This share insurance is similar to deposit insurance provided by the Federal Deposit Insurance Corporation (FDIC). Your TDECU savings accounts are federally insured up to $100,000, an amount equal to the insurance protection offered by the FDIC. NCUA revised its share insurance rules in 1999 to provide greater deposit insurance coverage. These new guidelines make it potentially possible for more of your funds to be protected by the NCUSIF. Individual Retirement Accounts in the same credit union are separately insured up to $250,000.
 Excess Share Insurance
Protecting your savings with the highest level of security available is one of our major objectives. That is why we combine your National Credit Union Share Insurance Fund (NCUSIF) coverage with excess deposit insurance protection from Excess Share Insurance (ESI), a subsidiary of American Share Insurance.
The TDECU Board of Directors has chosen to provide up to $30,000 additional savings protection to each qualifying account through ESI. ESI coverage applies to any credit union account currently subject to the maximum level of $100,000 in coverage provided by NCUSIF.
If you are uncertain about either the nature or the amount of your savings insurance protection, please contact the credit union.
|
