VLFCU would like to take this opportunity to share the press release below from the Nation Credit Union Administration. Not only does it outline the safety of your money deposited with a Federally Insured credit union, it also warns of new scams emerging from the COVID 19 outbreak.
Keep in mind that our members are also protected by an additional $500,000 in insurance made available through private insurance from Excess Share Insurance (ESI). Combined with the $250,000 protection from the NCUA, share/savings accounts are insured up to $750,000. This coverage is more than most financial institutions in the country!
Please let us know if you have any questions regarding your accounts. We hope you find this information from the NCUA helpful and that you have peace of mind about your savings. Click the image below to read the full press release.