Credit Union Safety and Soundness
Your Insured Funds Brochure
http://www.ncua.gov/DataServices/DownloadDataIndex_Files/NCUA%20Insurance%20Brochure%20and%20Related%20Information/YourInsuredFunds.pdf
Share Insurance FAQ’s
http://www.ncua.gov/Resources/ShareInsurance/NCUAInsuranceFundFAQs.htm
Jax Federal Credit Union continues to be well-capitalized according to the most recent NCUA-Financial Performance Report. Capital--reserves plus undivided earnings--is the safety cushion that protects against loss. It allows credit unions to survive recessions or turbulent financial markets.
Safeguarding your hard-earned money is critical. That's why Jax Federal Credit Union has federal share insurance, administered by a US government agency, the National Credit Union Administration (NCUA). The National Credit Union Share Insurance Fund (NCUSIF) protects aggregate savings up to at least $250,000 in your regular membership savings, certificates, Money Market and checking accounts. This amount could be much higher, depending upon how your accounts are set up. Individual and joint accounts are insured separately. For example, say you have an individual account containing $250,000, and a joint account with your spouse containing $250,000. Your coverage would total $500,000. If your spouse also has an individual account, then the total insurance for the couple would be $1,000,000. ($250,000 for each individual account and $500,000 for the joint coverage.)
The coverage for individual retirement accounts (IRAs) and Keoghs is $250,000. Funds in traditional IRAs and Roth IRAs are added together and insured in the aggregate to $250,000. It's important to note that share insurance doesn't cover investment products such as mutual funds and annuities.
So how do you know we're federally insured? All federally insured credit unions must post the official NCUA insurance sign in their offices. As do other NCUSIF-insured credit unions, we abide by high standards of safety and soundness. Because of that, NCUSIF is a strong, well-capitalized fund. So bring your savings to us: You can count on Jax Federal Credit Union to take good care of it.
To check your own share insurance, click on calculate coverage.
