Protecting your savings with the highest level of security available is a priority at Lowell Firefighters Credit Union.
With all the media attention being given to concerns about today's economy, we want to let you know of a great way to protect your savings. As a member of Lowell Firefighters Credit Union, your deposits are covered by two of the nation's strongest insurers: the National Credit Union Administration (NCUA) and the Massachusetts Credit Union Share Insurance Corporation (MSIC).
NCUA AND MSIC's share insurance coverage provides our members with the highest level of protection available.
Lowell Firefighters Credit Union enjoys the safety and security of federal deposit insurance through the NCUA. The National Credit Union Share Insurance Fund (NCUSIF), an arm of the NCUA, is very similar to the FDIC for banks. Your coverage at Lowell Firefighters Credit Union through the NCUA means that your deposits are protected up to $250,000.00 until December 31, 2009.
Not all financial institutions are created equal. Lowell Firefighters Credit Union is different. Your excess shares and deposits above the NCUA coverage, up to the protected limits, are also insured. The Massachusetts Credit Union Share Insurance Corporation (MSIC) provides you, our members, with additional excess deposit insurance.
Rest easy knowing your funds, up to the protected limits, are insured by MSIC. Since 1961, MSIC has been insuring funds at credit unions across the Commonwealth. During that time, no credit union member has ever lost even a penny of their savings.
Excess Insurance eliminates the stress of structuring accounts to ensure that our deposits are protected. With Excess Share Insurance, your funds can be protected in one place, keeping you from running around town every time you want to make a transaction.
Lowell Firefighters Credit Union provides this added protection of excess deposit insurance to you automatically and at no extra cost to you, a benefit that adds tremendous value to your membership.
If you have concerns about share insurance, do not hesitate in contacting us or visit www.MSIC.org or www.NCUA.gov. If you would like information about membership with us, please contact Lowell Firefighters Credit Union directly.
