Depositors Insurance:
Insured by the National Credit Union Association Administration
NCUA.
(Federal Agent)
Insurance:
Life Savings - the first $5,000.00 in each regular share account is insured at no direct expense to the member provided it remains on deposit according to the following scale:
0 to 6 Months 25%
6 months through 54 years 100%
55 years through 59 years 75%
60 years through 64 years 50%
65 years through 69 years 25%
Members upon attaining the age of six months shall be afforded 100% coverage on their then insurable balance.
No coverage is afforded on that portion of any member’s balance deposited AFTER his 70th birthday.
Credit Life:
*Available at no direct expense to the member
*Maximum limit $20,000.00 per member
*Must be gainfully employed and under 70 years of age
Credit Disability:
*Available upon request for loans
*Maximum limit $30,000.00 per loan - 10 year duration
*Maximum monthly benefit $600.00
*Monthly renewable (premium added to loan monthly)
*Must be gainfully employed and under 65 years of age
*No loan covered after member’s 66th birthday
Payroll deduction (provided by the corporation -- coordinated with the credit union). This is an excellent means of savings, and also convenient for loan payments.
All transactions are confidential. Credit information is only released to authorized agencies (credit bureau).
USA Patriot Act of 2001
In order to open or change an account, add a signer, or make an application for any services.
Federal Law
(USA Patriot Act of 2001)
Now requires us to obtain and retain photo identification for identity verification purposes.
The Uniting and strengthening of America by providing appropiate tools required to intercept obstruct terrorism (USA Patriot Act of 2001), requires financial Institutions to take steps to obtain and verify certian identifying information for any person used to verify the persons identity; and determine whether the person appears on any list of suspected terrorists provided by the Federal Government.
