ALEXANDRIA, Va. (Nov. 30, 2015) – Credit union members will have an easier time understanding how their accounts at federally insured credit unions are protected as a result of three new videos released today by the National Credit Union Administration.
Available on NCUA’s YouTube Channel, the three videos are part of NCUA’s Consumer Report series developed by the Office of Consumer Protection. The videos include a Share Insurance Coverage Overview, How to Use NCUA’s Share Insurance Estimator and Account Ownership Types.
“These videos are excellent tools to educate depositors about the protection offered by the National Credit Union Share Insurance Fund,” NCUA Board Chairman Debbie Matz said. “Federally insured credit unions are a very safe place to save. No member of a federally insured credit union has ever lost a penny of shares insured by NCUA. I urge credit unions to make their members aware of these videos or to download them and share them on their own websites.”
The videos are also housed on NCUA’s new Share Insurance Toolkit for Consumers located on MyCreditUnion.gov. The toolkit provides a variety of helpful resources for consumers to better understand insurance coverage on their deposits at federally insured credit unions, including:
Federally insured credit unions interested in using these resources to promote awareness of federal share insurance coverage can embed the links on their websites for viewing by members.
NCUA supports credit unions and their members with free financial literacy and consumer protection resources available at MyCreditUnion.gov. NCUA also provides up-to-date financial education information on the agency’s YouTube, Facebook and consumer Twitter feeds.
NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share
Insurance Fund, insuring the deposits of more than 103 million account holders in all federal credit unions and the overwhelming majority of
state-chartered credit unions. At MyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.