Federal Insurance Increases

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UPDATE: The $250,000 Share Insurance Protection increase is now permanent!

The Helping Families Save Their Homes Act of 2009, signed into law May 20, 2009, included a provision extending $250,000 share insurance coverage provided by the National Credit Union Share Insurance Fund through December 31, 2013. Now, with the Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law July 21, 2010, this level of coverage has become permanent. The level of coverage was increased from $100,000 in 2008.

Does that mean any funds you have at Vantage are insured to only $250,000? Not necessarily. Contact us for more information on how you may qualify for additional coverage through NCUA.

What is the NCUA?
The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. It has the full backing and credit of the U.S. government. It operates and manages the National Credit Union Share Insurance Fund, which insures the deposits of nearly 89 million accounts in all federal credit unions and the overwhelming majority of state-charted credit unions.

Bottom line: Your deposits are safe with Vantage.
Vantage is backed by the full faith and credit of the U.S. government via the NCUA*, which is much like another government agency, the Federal Deposit Insurance Corporation (FDIC), which is used to insure U.S. banks.

For more information, visit www.ncua.gov.

*Accounts not covered by NCUA insurance include mutual funds, stocks, bonds, life insurance policies and annuities.

 

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