Deposit Insurance

State Employees' Credit Union is committed to protecting member deposits. As a result, the following methods have been implemented:

Methods

• Property insurance guards against fire and theft
• Annual reserves for additional protection
• SECU subject to audits by 4 sources: Credit Union Division of the NC Department of Commerce, Internal Audit, an outside CPA auditing firm and the National Credit Union Administration

The National Credit Union Administration (NCUA) is an independent United States government agency that insures the deposits of credit union members nationwide. Managed by the National Credit Union Administration Board, NCUA examines, supervises and insures both federally-chartered and qualifying state-chartered credit unions. Also managed by the NCUA Board, the National Credit Union Share Insurance Fund (NCUSIF) is a component of NCUA and was established by Congress on October 19, 1970 to insure member accounts.

Features

• Up to $100,000 basic insured amount
• Includes funds in share, checking, money market share and share term certificate accounts
• IRAs insured separately up to $250,000
• Health Savings Accounts are insured separately up to $100,000
• No charge for share insurance protection
• Individual accounts with same accountholder totaled and insured up to $100,000
• Joint accounts insured separately from individual accounts up to $100,000

For complete details, please review the State Employees' Credit Union brochure. Questions regarding NCUA insurance can be directed to a local branch or submitted in writing through Secure Message in Member Access.