Share Insurance / NCUA
Your deposits here at Redstone Federal Credit Union® are insured to at least $250,000 through the National Credit Union Administration (NCUA). This is very similar to the way deposits in banks are insured by the Federal Deposit Insurance Corporation (FDIC). Both are backed by the full faith and credit of the U.S. government. You can rest easy knowing that not one penny of insured savings has ever been lost by a member of a federally insured credit union.
How your accounts are federally insured
NOTICE OF EXPIRATION OF THE TEMPORARY FULL NCUA INSURANCE COVERAGE FOR "NONINTEREST-BEARING TRANSACTION ACCOUNTS"
By federal law, beginning January 1, 2013, funds deposited in a "noninterest-bearing transaction account" (including an Interest on Lawyer Trust Account) no longer will receive unlimited share insurance coverage by the National Credit Union Administration (NCUA). Beginning January 1, 2013, all of a member's accounts at an insured credit union, including all "noninterest-bearing transaction accounts," will be insured by NCUA to at least the standard maximum share insurance amount ($250,000), for each share insurance ownership category.
For more information about NCUA insurance coverage of "noninterest-bearing transaction accounts," contact NCUA's Office of Consumer Protection at (703) 518-1140 or by email at OCPMail@ncua.gov or visit www.ncua.gov.