Get Peace of Mind with Power Financial Credit Union

Here at Power Financial Credit Union, we understand that your money is important to you. To protect our members, we provide share insurance coverage, which is offered through the National Credit Union Administration (NCUA). As such, your funds are federally insured for up to $250,000 or more and are backed by the Full Faith and Credit of the United States Government

What coverage does the NCUA provide?
All individual standard share accounts are insured for up to $250,000. This includes regular shares (savings account), share drafts (checking accounts), money market accounts, and share certificates (CDs). Retirement accounts such as traditional IRAs, Roth IRAs, and KEOGH accounts are covered for up to $250,000. However, IRA accounts are insured collectively while KEOGH retirement accounts are insured separately.

For example, a member at Power Financial Credit Union with a regular share account, an IRA, and a KEOGH is covered:

What if I need Additional Coverage?
Your accounts are eligible to receive additional government account insurance coverage at Power Financial Credit Union.  For example, accounts with named qualifying beneficiaries receive up to $250,000 for each beneficiary designated on the account.  Another way to increase your coverage is by having a joint account.  Joint accounts without beneficiaries are insured separately for $250,000 each.  This means that a joint account between two people is insured by the NCUA for $500,000.    It is important to note that joint accounts titled with the same owners are insured aggregately to $250,000 regardless of how many different accounts there are. 

Power Financial Credit Union will work with you to maximize the amount of coverage you are eligible to receive.  Get peace of mind in knowing that no member has ever lost money insured by NCUSIF.  If you have any questions, please stop by one of our many branch locations, email us at listening@powerfi.org, or call us at 305-258-1000 or 954-538-4400 or toll free at 1-800-548-5465.