DEPOSIT INSURANCE

YOUR MONEY IS SAFE AND INSURED AT COMMUNITYAMERICA

Effective October 3, 2008: The passage of the Emergency Economic Stabilization Act of 2008 required that the National Credit Union Administration (NCUA) increase share insurance protection to $250,000 on all types of deposit accounts until December 31, 2009.

This means that all CommunityAmerica deposit accounts are now federally insured up to $250,000 through the National Credit Union Share Insurance Fund (NCUSIF), which is an arm of the National Credit Union Administration (NCUA). IRAs and IRA Certificates are separately insured by NCUA up to $250,000, up to a total amount of $500,000.

CLICK HERE TO ESTIMATE YOUR SHARE INSURANCE.

In addition, CommunityAmerica also has Excess Share Insurance (ESI) which insures primary savings accounts (i.e., 00 suffix: regular share savings or trust) that are over $250,000 for an additional $250,000.

WHAT IS THE NCUA?

The NCUA is an independent agency of the U.S. Government established by Congress to insure savings accounts and maintain sound conditions in the Credit Union system. It's similar to FDIC insurance provided by banks.

WHAT ACCOUNTS ARE INSURED THROUGH NCUA?

Your credit union share savings account(s), checking account(s), Certificates of Deposit account(s) and money market account(s).

The NCUA Insurance Call Center, operating from 8:00 a.m. to 6:30 p.m. (EDT) Monday through Friday, has insurance experts available to answer questions about the coverage provided by NCUA share insurance. The toll-free Insurance Call Center number is 1-800-755-1030, extension 1.

The NCUA electronic tool kit, online at http://www.ncua.gov/ShareInsurance/Index.htm, contains a variety of useful information on share insurance coverage.

HOW MUCH ARE MY ACCOUNTS INSURED UP TO?

INDIVIDUAL DEPOSIT ACCOUNTS - accounts held by the same member are added together and are insured up to $250,000.
JOINT DEPOSIT ACCOUNTS - are insured separately from individual accounts and are insured up to $250,000.

WHAT IS EXCESS SHARE INSURANCE (ESI)?

Excess Share Insurance insures only primary share savings accounts (i.e., 00 suffix: regular share savings or trust) for an additional $250,000. ESI only applies when your primary share savings account balance is more than $250,000. NCUA combined with ESI coverage gives you protection of up to $500,000. This additional coverage is provided at no cost to you as a member.

DEPOSIT INSURANCE EXAMPLES:

Example 1: John Doe has the following individual accounts:

HOW MUCH IS JOHN INSURED FOR? John Doe would be insured for a total of $250,000. NCUA insures combined funds up to $250,000.

Example 2: Roger Jones has the following individual accounts:

HOW MUCH IS ROGER INSURED FOR? Roger Jones would be insured for a total of $500,000. NCUA insures combined funds up to $250,000 and an additional $200,000 is covered separately for his IRA. ESI then covers the remaining $50,000.

Example 3: John Doe and Mary Doe have the following joint accounts:

HOW MUCH ARE JOHN AND MARY INSURED FOR? John Doe and Mary Doe would be insured for a total of $280,000, or $140,000 each. NCUA insures combined funds up to $250,000 for each owner.

Example 4: Martin Jackson has the following individual AND joint accounts with Melanie Jackson:

HOW MUCH ARE MARTIN AND MELANIE INSURED FOR? Martin Jackson would be insured for $90,000 on his individual accounts and an additional $135,500 for his joint accounts with Melanie. Melanie Jackson would be insured for a total of $135,500 for her joint accounts with Martin.