Your Money is Safe

Your money is safe at Unity Catholic Federal Credit Union (UCFCU). 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 $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 $290,000; $250,000 of this balance is insured by NCUA, with the remaining $40,000 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 $250,000 by ESI. Ask any Member Services Representative for additional information.