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 (opens new window), 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 (opens new window), How to Use NCUA’s Share Insurance Estimator (opens new window)and Account Ownership Types (opens new window).
“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 (opens new window)located on MyCreditUnion.gov (opens new window). The toolkit provides a variety of helpful resources for consumers to better understand insurance coverage on their deposits at federally insured credit unions, including:
- The Share Insurance Estimator (opens new window), NCUA’s interactive site which allows users to input data to compute the amount of Share Insurance Fund coverage available under different account scenarios, and
- NCUA’s share insurance publications How Your Accounts Are Federally Insured (opens new window)and Your Insured Funds (opens new window). Both publications are available in English and Spanish.
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 (opens new window). NCUA also provides up-to-date financial education information on the agency’s YouTube (opens new window), Facebook (opens new window) and consumer Twitter (opens new window)feeds.