Personal, Loans, Access, and Investing, Policies, Disclosures

CCCU POLICIES


When you deposit your money with CCCU, it's protected against loss up to $250,000 by the NCUA (National Credit Union Administration). Essentially, it's the same protection the FDIC offers its bank customers. This insurance protects you from the loss of your principal deposit of at least $250,000 in the case of a failure or serious financial impairment of the financial institution.
 



EXAMPLE FOR MAXIMIZING COVERAGE

The following example shows how a family of four (Mother Jane, Father Tom, and two children Bobby and Charlotte) can maximize share insurance coverage.

 
ACCOUNT TITLE
AMOUNT OF COVERAGE

SINGLE ACCOUNT OF JANE
$250,000
 

SINGLE ACCOUNT OF TOM
$250,000
 

JOINT ACCOUNT OF TOM & JANE
$500,000
 

IRA FOR JANE
$250,000
 

IRA FOR TOM
$250,000
 

TOM, POD FOR BOBBY & CHARLOTTE
$500,000
 

JANE, POD FOR BOBBY & CHARLOTTE
$500,000
 

TOTAL
$2,500,000
 

The slide show below will walk you through the basics of share insurance. The slides focus on the types of accounts, and how to set up your accounts to maximize coverage. There are real-world examples to help you understand share insurance coverage.
 



ABOUT NCUA SANCTION

The NCUA cannot officially sanction and approve these examples because, although generally accurate, they are designed to simplify in layman's terms rather complex rules that in some circumstances may only be fully understood in the statutory and regulatory context in which they were written.

For more information about the NCUA, visit the NCUA website at http://www.ncua.gov.

 



EQUAL HOUSING LENDER

We do business in accordance with Federal Fair Lending Laws. Click here for Equal Housing Lender Disclosure.
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