NCUA Deposit Insurance
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May 22, 2008
Congress extends the increase in deposit insurance to
December 31, 2013
Deposits in the credit union are insured to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF) an arm of the National Credit Union Administration. This is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC).
Deposits may be insured for more than $250,000 based on account ownership. IRA accounts are insured separately to $250,000. Brochures explaining the benefits of NCUSIF insurance are available at the credit union.
Insured credit unions such as Sterling Federal Credit Union deposit and maintain one percent of their insured shares and deposits in the NCUSIF. No tax dollars support this fund.
This fund is currently at the strongest and best reserved level in its history. Not one penny of insured savings has ever been lost by a member of a federally insured credit union.
Another reason it makes sense to save at the credit union is members receive an added benefit of life insurance coverage on their share deposits with no direct cost.
Life Savings Insurance is a level term life insurance policy covering regular share/savings accounts with a maximum benefit of $3000.00. The amount of insurance is based on the insured balance in share/savings on the date of death and the age of the insured at the time of each deposit. There is a pre-existing condition limitation and deposits made after age 70 are excluded from life savings insurance.
Brochures explaining the benefits and exclusions of Life Savings Insurance are available at the credit union.
AD&D - Accidental Death & Dismemberment Insurance
Our partnership with CUNA Mutual Group allows us to provide this benefit with no direct cost to you.
Complimentary Accidental Death & Dismemberment coverage in the amount of $1000 is extended to members between 18 and 69. Coverage is reduced by 50% at age 70.
Brochures explaining the benefits and exclusions of Accidental Death & Dismemberment coverage are available at the credit union.
- To purchase additional coverage simply call an experienced professional at CUNA Mutual 1.877.636.2377.
- You can also visit them on line.
The insurance offered is not a deposit and is not Federally Insured or guaranteed or sold by Sterling Federal Credit Union. Product may not be available in all states.
Knowing how to choose the right amount of coverage, policy options, and deductibles can sometimes be confusing.
Our partnership with CUNA Mutual Group is the solution to making insurance easy. CUNA Mutual provides competitive rates and expert assistance to credit union members. Licensed professionals will help you assess your needs, recommend coverage and help you evaluate the advantages and disadvantages of different policies.
Click here for your free quote!
The insurance offered is not a deposit and is not Federally Insured or guaranteed or sold by Sterling Federal Credit Union. Product may not be available in all states.
Home Owners Insurance
It’s not easy choosing the right insurance coverage, but our partnership with CUNA Mutual Group provides members an easy solution to learn about insurance products and obtain a free, no-obligation quote.
CUNA Mutual provides competitive rates and expert assistance to credit union members. Licensed professionals will help you assess your needs, recommend coverage and help you evaluate the advantages and disadvantages of different policies.
Click here for your free quote!
The insurance offered is not a deposit and is not Federally Insured or guaranteed or sold by Sterling Federal Credit Union. Product may not be available in all states.
Life insurance is an essential part of your financial security. Life insurance can protect your assets while protecting and eliminating financial burdens from your loved ones. Thanks to our partnership with CUNA Mutual Group you can turn to their licensed professionals when making this important decision.
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Call 1.888.380.9287 today for a free, no-obligation quote.
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You can also visit them on line.
The insurance offered is not a deposit and is not Federally Insured or guaranteed or sold by Sterling Federal Credit Union. Product may not be available in all states.
When constructing an insurance plan, keep long term care insurance open as an option. Long term care insurance can help you preserve your freedom and retain your independence while insuring your nest egg.
Thanks to our partnership with CUNA Mutual Group you can see how long term care insurance can protect your savings and independence.
- Call 1.888.380.9287 today for a free, no-obligation quote.
- You can also visit them on line.
The insurance offered is not a deposit and is not Federally Insured or guaranteed or sold by Sterling Federal Credit Union. Product may not be available in all states.
