Share Insurance Coverage Increased to at Least $250,000
The National Credit Union Administration (NCUA) is the federal agency that administers the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF, like the FDIC's Deposit Insurance Fund, is a federal insurance fund backed by the full faith and credit of the U.S. Government. As a member of federally insured Port City Federal Credit Union your accounts are insured to at least $250,000 as of October 3, 2008. The Emergency Economic Stabilization Act of 2008 increased the insurance coverage on all accounts up to at least $250,000 until December 31, 2009. IRA Accounts are separately insured up to $250,000. There are also separate coverage limits applicable to trust accounts. For more detailed information on share insurance coverage visit www.ncua.gov.
Your credit union, in keeping with the safeguarding of our member deposits and the high standards of safety and soundness regulated by the NCUA, has never engaged in sub-prime mortgage lending practices. From an investment standpoint, your credit union only invests excess funds in fully insured fixed rate Certificate of Deposits at federally insured financial institutions. We had no account relationships with Fannie Mae, Freddie Mac, or any of the adversely affected Wall Street investment firms. As we all work through these trying economic times, rest assured that your credit union is healthy and strong, and your deposits are safe and sound.
Welcome
In today’s busy world, which offers so many choices, it is nice to know there’s a place where you’re not just a customer – you’re a member. A place that stands out from the rest… your Credit Union.
We hope you will think of this website as our Online Branch. You can view your account, retrieve your statements, apply for a loan, figure out your payment on a new loan, and much more! You can access home banking from this home page, in the upper right corner. Visit often for many of the things you would visit our office for!
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Download a PDF version of our October 2008






