$250,000 NCUA Share Insurance Protection Now Permanent
July 22, 2010, Alexandria, Va. – President Barack Obama yesterday signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act. Included in this sweeping legislation are provisions making permanent the current $250,000 maximum federal deposit insurance level, which had been temporary until December 31, 2013.
Federally insured credit union member accounts are insured to at least $250,000 by the
National Credit Union Share Insurance Fund, a federal insurance fund backed by the full
faith and credit of the U.S. Government.
A temporary increase from $100,000 to $250,000 was effective from October 3, 2008,
through December 31, 2009. On May 20, 2009, the temporary increase was extended
through December 31, 2013, and now the $250,000 federal insurance protection becomes
The National Credit Union Administration charters and supervises federal credit unions.
NCUA, with the backing of the full faith and credit of the U.S. government, also operates
and manages the National Credit Union Share Insurance Fund, insuring the accounts of
over 90 million account holders in all federal credit unions and the majority of statechartered
credit unions. NCUA is funded by credit unions, not federal tax dollars.
(and YOU do too!)
During these uncertain economic times, BrightView Credit Union, along with other Mississippi credit unions, are pooling their resources to let everyone know the value that credit union membership brings: Better Rates. Lower Fees. People Who Care.
The credit union awareness campaign, “iBelong”, is increasing understanding about credit unions during a critical time when individuals are feeling the squeeze of tightened credit and reduced financial resources. This high-quality campaign highlights the advantages of membership, such as better rates and lower fees and makes it clear just how easy it is to join a credit union. The iBelong campaign, which hit the airwaves on TV and radio early in 2009, also reveals the differences between credit unions and other financial institutions. As a credit union member, you have an opportunity to view the iBelong commercials at www.ibelong.org.
The iBelong awareness campaign is important to the thousands of Mississippians who don’t know what they're missing by not belonging to a credit union. It will also be beneficial to credit union members who may not fully realize the benefits of the credit union “difference.” As a not-for-profit financial institution, BrightView CU makes decisions in the best interest of our members, not a group of stockholders. And, we are locally-owned by you, our member. That means in today’s environment of troubled national financial institutions, you can enjoy the confidence of doing business in your own community. Plus, BrightView CU has federal deposit insurance up to $250,000 per account backed by the full faith and credit of the U.S. Government.
Decisions made in your best interest, locally-owned in your community, safe & secure, better rates, lower fees, easy to join . . . what’s not to love about your credit union? Watch for the iBelong commercials and help us spread the good news about the advantages of credit union membership!
Credit Unions: Where People Are Worth More Than Money™