STCU deposits are now federally insured to $250,000. Even higher if you structure your accounts properly!
This change boosts the security of your savings from $100,000 to $250,000, giving you greater peace of mind about the money you’ve worked hard to save at STCU. The change is effective immediately and will continue at least through Dec. 31, 2009, according to the National Credit Union Administration.
Most STCU accounts enjoy federal insurance protection, including your STCU savings accounts, share draft (checking) accounts, money market accounts, and share certificates. However, stocks, bonds, mutual funds, annuities, or insurance products purchased from any of our partners are not federally insured by the NCUA.
Federal regulators have raised the deposit insurance at credit unions.
Officials also have expanded the beneficiary coverage of NCUA-insured savings, allowing you to use joint accounts and Individual Retirement Accounts to easily protect more than $1 million in savings. For example, an account jointly held by you and your child can be insured for $500,000, in addition to the $250,000 you have saved in your own individual account.
To learn more about properly structuring your savings to maximize federal insurance protection, contact an STCU Member Service Representative:
Or click here to use the NCUA insurance estimator.
