Your deposits insured to $250,000
How you could insure up to $2.5 million
Unlike stocks, bonds, or real estate, the money you deposit at STCU is insured up to $250,000 by the National Credit Union Administration, an arm of the federal government.
That protection is important because it ensures you'll never lose your principal -- the original amount deposited -- no matter how the economy fares. In fact, you're likely to get more money back, as STCU dividends compound over time.
Most STCU accounts are federally insured, including:
- Share draft (checking) accounts
- Savings accounts
- Money market accounts
- Certificates
- Individual Retirement Accounts
NCUA insurance on your account balances is limited to $250,000, but if you know how the rules work, it is possible to increase your insurance coverage ten-fold. Here's how a family of four could insure $2.5 million in savings at STCU:
| Type of STCU account | Insured to this amount |
| Primary accounts in your name | $250,000 |
| Separate accounts in spouse's name | $250,000 |
| Joint accounts shared by husband and wife | $500,000 |
| IRA in your name | $250,000 |
| IRA in spouse's name | $250,000 |
| Revocable trust in your name (payable to your two children upon death) |
$500,000 |
| Revocable trust in spouse's name (payable to your two children upon death) |
$500,000 |
| Total NCUA insurance coverage | $2.5 million |
Many other combinations for insuring large deposits are available, according to the NCUA's free insured funds brochure. The important thing is that no one has ever lost a penny in federally insured savings at STCU or any other credit union.
To learn more about structuring your savings to maximize federal insurance protection, chat with an STCU member service representative, call us during normal business hours, or visit any STCU branch location.
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© 1995-2012 Spokane Teachers Credit Union |
This credit union is federally insured by the National Credit Union Administration. Unlimited protection on non-interest checking. |