Your Money is Safe, Secure, Insured

Through the National Credit Union Administration (NCUA), your Checking, Savings, and Certificate accounts are insured to at least $100,000. Certain retirement accounts, such as IRAs and Keoghs, are insured up to $250,000.

The NCUA is the National Credit Union Administration—the federal agency that charters and oversees credit unions. The NCUA also insures member accounts through the National Credit Union Share Insurance Fund (NCUSIF), established by Congress in 1970.

Insurance provided by the NCUSIF is similar to the insurance provided by banks through the Federal Deposit Insurance Corporation (FDIC). Your savings, checking, and certificate accounts are insured up to $100,000—just like FDIC coverage. And like FDIC coverage, NCUSIF insurance is backed by the full faith and credit of the United States government. Not one penny of insured savings has ever been lost by a member of a federally insured credit union.

All credit unions insured by the NCUSIF must meet high standards of safety and soundness. Wescom holds itself to even higher standards than the NCUSIF requires. With assets of $3.8 billion and an 8% equity ratio, we are one of the most well capitalized credit unions in the country. When you deposit funds in a Wescom account, you can rest assured that your money will be there for you when you need it. Safe. Secure. Protected.

Frequently Asked Questions About NCUSIF Insurance

What accounts are insured?
Your Checking, Savings, and Certificate accounts are all insured up to $100,000 each. If you have more than one account, the balances are added together and insured up to $100,000. Certain retirement accounts, such as IRAs and Keogh plans, are insured up to $250,000—that’s separate from the $100,000 coverage on your other Wescom accounts.

Are my investment accounts covered by NCUSIF insurance?
No. NCUSIF insurance does not apply to investments, such as stocks, bonds, mutual funds, annuities, and life insurance.

Can I can increase the insurance on my accounts?
You may have additional coverage on multiple accounts based on different account ownership. For example, if you have a Checking Account in your name and a joint Savings Account with your spouse, each account is insured up to $100,000 for a total of $200,000 in coverage.

For more information, call 1-888-4WESCOM (1-888-493-726) or visit the NCUA website at www.NCUA.gov.