| |
|
Credit Union of Texas...Safe and Secure
A Message from John Lederer, Credit Union of Texas CEO/President
Thank you for being a valued member of Credit Union of Texas. It is a pleasure for us to help you achieve your financial dreams through our sound products and services. In light of the recent financial market events, we understand that consumers are concerned about the health of their own financial institution. We want to assure our members that Credit Union of Texas is financially strong, and your funds are safe and secure.
|
|
|
|
Federal Deposit Insurance through NCUA
There's no better time to be a credit union member. At Credit Union of Texas, your funds are insured by the National Credit Union Share Insurance Fund (NCUSIF), which insures savings of at least up to $250,000 per account. Certain retirement accounts benefit from additional coverage of up to $250,000. This insurance means your accounts are backed by the full faith and credit of the U.S. government. What does share insurance coverage mean for you?
- Individual Accounts: All CUofTX deposit accounts (other than IRA deposits) owned by one person are combined and insured to $250,000.
- IRAs: All CUofTX IRA accounts are combined and insured to $250,000.
- Joint Accounts: CUofTX accounts with two or more owners, each having equal share, are combined and insured to $250,000 for each owner.
- Payable on Death (POD) Accounts: At least one person names at least one qualified beneficiary to receive an account balance if the owner dies. The owner is insured to $250,000 for each beneficiary.
- Revocable Trust Accounts: At least one person names at least one qualified beneficiary to receive an account balance if the owner dies. The owner is insured to $250,000 for each beneficiary.
Since coverage is defined by ownership, you may be able to receive coverage beyond the above limits, depending on how your account ownership is structured. For more details, please read:
|
