Feds raise deposit insurance to $250,000
Keep more of your money at STCU
[October 8, 2008]
STCU deposits are now federally insured to $250,000. Even higher if you structure your accounts properly!
This change boosts the security of your savings from $100,000 to $250,000, giving you greater peace of mind about the money you’ve worked hard to save at STCU. The change is effective immediately and will continue at least through Dec. 31, 2009, according to the National Credit Union Administration.
Most STCU accounts enjoy federal insurance protection, including your STCU savings accounts, share draft (checking) accounts, money market accounts, and share certificates. However, stocks, bonds, mutual funds, annuities, or insurance products purchased from any of our partners are not federally insured by the NCUA.
Keep more of your money at STCU
Federal regulators have raised the deposit insurance at credit unions.
- Deposits are federally insured to at least $250,000.
- Joint accounts and IRAs can expand coverage even higher.
- Most STCU accounts are insured.
- Deposits insured by the NCUA, a federal agency, and backed by the full faith and credit of the United States government.
Officials also have expanded the beneficiary coverage of NCUA-insured savings, allowing you to use joint accounts and Individual Retirement Accounts to easily protect more than $1 million in savings. For example, an account jointly held by you and your child can be insured for $500,000, in addition to the $250,000 you have saved in your own individual account.
To learn more about properly structuring your savings to maximize federal insurance protection, contact an STCU Member Service Representative:
- Call (509) 326-1954 or (208) 619-4000.
- LiveChat online during regular business hours.
- Visit any STCU branch location.
Or click here to use the NCUA insurance estimator.
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