Your Money Is Safe

McCoy Federal Credit Union has federal share insurance, administered by an independent Federal Government agency, the National Credit Union Administration (NCUA). The NCUA is a government agency, similar to the FDIC. The National Credit Union Share Insurance Fund (NCUSIF), administered through the NCUA, insures Share Savings, Share Draft/Checking and Share Certificate accounts up to $250,000 per depositor. McCoy Federal Money Market accounts are also share accounts and are insured.

Individual Retirement Accounts (IRAs) and Keogh accounts are insured separately. So, if you have a McCoy Federal Credit Union Share Savings account and an IRA, the Share Savings account is insured up to $250,000 and the IRA separately up to $250,000. But it's important to note that share insurance doesn't cover investment products such as mutual funds, stocks and annuities.

Share insurance also separately insures individual and joint accounts. For example, if
you have an individual account containing $250,000, and a joint account with your spouse containing $250,000. Each account is insured separately for a total coverage of $500,000. For revocable living trusts or payable on death (P.O.D.) accounts you can easily have
your funds federally insured for more than the $250,000, depending on the number of qualifying beneficiaries.

Notice of Changes in Temporary NCUA Insurance Coverage for Transaction Accounts
In accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, through December 31, 2012, all funds in noninterest-bearing transaction accounts are insured in full by the National Credit Union Administration. This unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to members under the NCUA's general share insurance rules.

The term noninterest-bearing transaction account includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no dividend. It does not include any transaction account that may earn dividends, such as a negotiable order of withdrawal (NOW) account, money-market account, or Interest on Lawyers Trust Account (IOLTA), even if share drafts may be drawn on the account.

The temporary full insurance coverage of noninterest-bearing transaction accounts expires on December 31, 2012. After December 31, 2012, funds in noninterest bearing transaction accounts will be insured under the NCUA's general share insurance rules, subject to the Standard Maximum Share Insurance Amount of $250,000.

All federally insured credit unions - like McCoy Federal - must post the official NCUA insurance sign in our offices. We are required, by the NCUSIF, to abide by high standards of safety and soundness. Because of that, NCUSIF is a strong, well-capitalized fund. Not one penny of insured savings has ever been lost by a member of a federally insured credit union.

For more information on NCUSIF insurance, please visit the NCUA website at www.ncua.gov