Share Insurance Rises to Protect Your Accounts

In these challenging days for the national economy, we can relieve you of one potential concern, and that is the safety of Energy Federal 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. The increase is temporary, taking effect from October 3, 2008 until December 31, 2009. Funds may be insured for even more than $250,000, depending on how you establish your accounts.

Second, Energy Federal 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, Energy Federal Credit Union is examined regularly by the NCUA to make sure we are engaging in safe and sound operations. We at Energy Federal Credit Union can assure you that your money is safe and we have money to lend. Feel free to call us today with any concerns or financial needs you may have.

Best regards,

Ronald P. Roy Energy Federal Credit Union President and CEO 

• For more information and an insurance estimator, please visit the NCUA Federal Share Insurance Information Page. This page contains brochures, frequently asked questions, and other links for information concerning federal share insurance. If you still have any questions, feel free to contact us at 301-670-1300, press 3.