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Your deposits in Telesis Community Credit Union are federally
insured by the National Credit Union Administration (NCUA), a U.S.
Government Agency. The NCUA runs the National Credit Union
Share Insurance Fund (NCUSIF), which is similar to coverage offered
by banks through the Federal Deposit Insurance Corporation (FDIC).
The NCUSIF is backed by the full faith and credit of the U.S. government,
and is rated as the strongest and healthiest of the federal financial
institution insurance funds by deposit insurance experts.
Your balances
are insured up to $250,000. However, depending on how your accounts
are structured, you may be eligible for additional coverage, potentially
increasing your insured total significantly.
Below are examples
of how a family can use multiple ownership and account types to
increase their insurance coverage. Please note that these are only
examples, and while generally accurate, your situation may be unique,
and other factors may apply. For specific advice on how you should
set up your accounts, please consult your attorney or financial
advisor. For more information, visit the NCUA
web site, or give us a call at (800) 895-8328.
EXAMPLES:
| Husband
and Wife, Insured Accounts Totaling $2,000,000 |
|
Individual Accounts
Husband
Wife
|
$250,000
$250,000 |
|
|
Joint Account with Right of Survivorship
Husband & Wife
|
$500,000 |
|
|
Revocable Trust Accounts
Husband as Trustee for Wife
Wife as Trustee for Husband
|
$250,000
$250,000 |
|
|
Certain Individual Retirement Accounts
Husband
Wife
|
$250,000
$250,000 |
|
| TOTAL |
$2,000,000 |
| Husband,
Wife & One Child, Insured Accounts Totaling $3,750,000 |
|
Individual
Accounts
Husband
Wife
Child
|
$250,000
$250,000
$250,000 |
|
|
Joint
Account with Right of Survivorship
Husband, Wife, and Child
|
$750,000 |
|
|
Revocable
Trust Accounts
Husband as Trustee for Wife
Wife as Trustee for Husband
Child as Trustee for Husband and Wife
|
$500,000
$500,000
$500,000 |
|
|
Certain
Individual Retirement Accounts
Husband
Wife
Child
|
$250,000
$250,000
$250,000 |
|
| TOTAL |
$3,750,000 |
|
Please
contact us at (800) 895-8328 ext. 3601 Monday –
Friday 8AM to 6PM PT or on Saturday from 8AM to 2PM PT with any
questions.
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