Good old "Plan B." It's nice to have something to fall back on when things don't go the way you plan. But when it comes to building a financial cushion for retirement, or saving for college or a down payment for a new house, setbacks can be costly.
Safeguarding your hard-earned money is critical. That's why Pacific Advantage FCU has federal share insurance, administered by an independent government agency, the National Credit Union Administration (NCUA). The National Credit Union Share Insurance Fund (NCUSIF) protects aggregate savings up to $100,000 in your regular share savings, certificates, and share draft/checking accounts.
Individual retirement accounts (IRAs) and Keogh accounts are insured separately. So, if you have a Pacific Advantage FCU share savings account and also an IRA, each is insured up to $100,000. But it's important to note that share insurance doesn't cover investment products such as mutual funds and annuities.
Something else about share insurance: It separately insures individual and joint accounts. For example, say you have an individual account containing $100,000, and a joint account with your spouse containing $100,000. Each account is insured separately for a total coverage of $200,000.
So how do you know we're federally insured? All federally insured credit unions--like yours--must post the official NCUA insurance sign in their offices. While all federal credit unions and many state-chartered credit unions provide NCUSIF coverage, some state-chartered credit unions offer account protection through private insurance or guaranty corporations.
As do other NCUSIF-insured credit unions, we abide by high standards of safety and soundness. Because of that, NCUSIF is a strong, well-capitalized fund.
So bring your savings to us: You can count on Pacific Advantage FCU to take good care of it.
Copyright 1998 Credit Union National Association, Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.
