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Your Money is Safe at Unity Catholic Federal Credit Union
As a federally chartered credit union, your funds are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), which is managed by the National Credit Union Administration (NCUA) , an agency of the federal government.
In addition, the Board of Directors has chosen to provide an additional $1,250,000 of savings coverage to qualifying accounts through the Excess Share Insurance Corp (ESI)
For example, if a member has a savings account, a checking account and a certificate of deposit, that when added together totals $470,000; $250,000 of this balance is insured by NCUA, with the remaining $220,000 insured by ESI. Deposit insurance is provided on a dollar-for-dollar basis and is payable only upon the failure and liquidation of the credit union.
*It is possible to structure combinations of accounts in such a manner that individuals may qualify for federal insurance in excess of $250,000. In addition, IRA accounts are federally insured up to $250,000 for each individual, plus up to an additional $1,250,000 by ESI. Ask any Member Services Representative for additional information.
