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| Your Money is Safe, Secure and Federally Insured |
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Don Lewis
President / CEO |
Is My Family’s Money Safe at APGFCU and Are You Still Making Loans?
These are two questions I am hearing from some members and friends of APGFCU in the wake of the current upheaval in the nation’s financial markets.
These concerns are totally understandable as the impact of this turmoil trickles down to our own neighborhoods and families in the form of higher prices, mounting bills, and the erosion of investments intended for college education, home purchases, or retirement.
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America's Credit Unions: Secure, Strong
(Click for Details)
The recent news of failing banks, government bail outs, and crashing stocks has a lot of people wondering if their money on deposit in our credit union is protected. Well, rest assured that at APGFCU, your money is safe, secure, and federally insured.
As a federally chartered credit union, APGFCU is supervised by the National Credit Union Administration (NCUA). NCUA is the federal agency that also insures savings in federal and most state-chartered credit unions across the country through the National Credit Union Share Insurance Fund (NCUSIF), a federal fund backed by the full faith and credit of the United States government. The insurance is automatic and paid for by APGFCU. There is no sign up required.
Most properly established share accounts in federally insured credit unions are insured up to the Standard Maximum Share Insurance Amount (SMSIA), which is $250,000 for regular share accounts and up to $250,000 for certain retirement accounts, such as IRAs and Keoghs.
The NCUSIF share insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC). Visit www.NCUA.gov for more information and to use the NCUA Share Insurance Estimator -- an educational resource about share insurance and detailed explanation of coverage. You can also request the Your Insured Funds brochure from any branch location.
Contact a Member Service Representative regarding your specific situation.
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