Deposit Insurance

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Share Insurance Rises to Protect Your Accounts

Your savings are federally insured to at least $250,000 and backed by full faith and credit of the United States Government, National Credit Union Administration, a U.S. Government Agency.

In these challenging days for the national economy, we can relieve you of one potential concern, and that is the safety of Canyon State Credit Union and the money in your accounts here.

First, your accounts are backed by the National Credit Union Share Insurance Fund (NCUSIF), a fund maintained by the U.S. Treasury and administered by the National Credit Union Administration (NCUA). Federal insurance protects your money in share savings, share draft/checking, money market, share certificate, trust, and retirement accounts.

NCUA coverage is to credit unions as FDIC, or Federal Deposit Insurance Corporation, coverage is to banks. Both funds are backed by the full faith and credit of the U.S. government.

And now, passage of the Emergency Economic Stabilization Act of 2008 increases NCUA coverage from $100,000 to $250,000. Funds may be insured for even more than $250,000, depending on how you establish your accounts.

Second, Canyon State Credit Union operates with a safety net of capital that helps us weather temporary setbacks. And, we maintain an "allowance for loan losses." This additional cushion anticipates losses when some members fail to repay loans.

Third, Canyon State Credit Union is examined regularly by the NCUA and a state credit union government agency to make sure we are engaging in safe and sound operations.
We at Canyon State Credit Union can assure you that your money is safe.

Click here for more information on NCUA insurance coverage.