Your Accounts are Protected

Recent news stories regarding financial institutions and the stock market can make you feel uneasy.  You can rest assured that your Chivaho Credit Union deposit accounts are protected.  In the history of credit unions, not one penny of insured savings has ever been lost by a member of a federally-insured credit union.

Your Savings are insured up to at least $1,000,000

Savings at Chivaho Credit Union are federally insured by the NCUA through its National Share Insurance Fund (NCUSIF) up to at least $250,000 per member, additional private insurance is provided up to at least $750,000 per member by the Excess Share Insurance Corporation (ESI). Members have combined coverage of at least $1,000,000.  

In addition, certain retirement accounts are insured separately - up to at least $250,000 by NCUA and up to at least $750,000 by ESI-for a total of up to at least $1,000,000 per member.  So, by maintaining your non-retirement savings and your IRA at the credit union you could have a combined savings insurance of at least 1 million.  

 National Credit Union Share Insurance FUnd (ncusif)

Your accounts are backed by NCUSIF, a fund maintained by the U.S. Treasury and administered by the National Credit Union Administration (NCUA).  Federal insurance protects our money in savings, checking, money market, certificate, trust and retirement accounts.  Click the link to download a NCUA Share insurance Brochure.