Your Money is Safe at McCoy Federal Credit Union

Friday, March 4, 2022

cash withdrawal

In times of crisis, it’s not a bad idea to keep some cash on hand to use for an emergency. You’re likely used to doing this during hurricane season when a storm threatens our state. And you’re also likely aware that it’s important to keep a level head when preparing for situations that storms can bring, such as outages.

As a member of McCoy Federal Credit Union, the well-being of you, your family and our community is our top priority. So, we wanted to share the information below to keep your mind at ease regarding your account with McCoy.

1. Your money is safe and insured through McCoy’s federal share insurance, administered by 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 as well as Individual Retirement Accounts and Keogh accounts separately. McCoy is required by the NCUSIF to abide by high standards of safety and soundness. Not one penny of insured savings has ever been lost by a member of a federally insured credit union.

2. McCoy’s IT team is constantly monitoring for threats and testing our processes for dealing with them.

The well-being of our members comes first, and that starts with keeping our network safe so we can continue to serve you.

3. Members with Smarter, Smart or Fresh Start Checking Accounts have access to fully managed identity theft recovery services and an entitlement to robust credit monitoring from NXG Protect.

This benefit from NXG Protect not only provides protection but peace of mind. To take full advantage of these services, you must register at using a Member ID provided by McCoy.

4. You can add another layer of protection for your individual accounts by double checking your security settings.

That means ensuring you’re using (and not re-using) strong passwords and turning on multi-factor authentication for all your accounts, including banking, email, social media, etc. Additionally, run updates on your devices whenever you are notified that one is available to keep them as secure as possible.

If you have any questions, please don’t hesitate to call us at 407-855-5452 or visit us in person at one of our 14 Central Florida locations.

McCoy FCU 3/4/2022