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Your Deposits at MCECU are Safe and Sound!!
The National Credit Union Administration is the ndependent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 87 million accounts in all federal credit unions and the overwhelming majority of state-chartered credit unions. We are isnured by NCUA.
Here are some important facts to remember about your share insurance:
Not one penny of insured savings has ever been lost by a member of a federally insured credit union. The federal insurance fund has several programs to help insured credit unions which may be experiencing problems. Liquidations or failures are a last resort. If a federally insured credit union does fail, however, the NCUSIF will make any necessary payouts to the credit union’s members. These payouts are usually done within 3 days from the time the credit union closes its doors.
As a member of an insured credit union, you do not pay directly for your share insurance protection. Your credit union pays into the NCUSIF a deposit, and an insurance assessment, based on the total amount of insured shares and deposits in the credit union. Insured credit unions are required to deposit and maintain one percent of their insured shares and deposits in the NCUSIF. The NCUSIF is backed by the full faith and credit of the United States government.
Most properly established share accounts in federally insured credit unions are insured up to the Standard Maximum Share Insurance Amount (SMSIA), which is $100,000 as of April 2006, but may be increased in the future. Recent legislation has increased the insurance coverage on certain retirement accounts, such as IRAs and Keoghs, up to $250,000. Generally, if a credit union member has more than one account in the same credit union, those accounts are added together and insured in the aggregate. There are exceptions, though. You may obtain additional separate coverage on multiple accounts, but only if you have different ownership interests or rights in different types of accounts and you properly complete account forms and applications. For example, if you have a regular share account and an Individual Retirement Account (IRA) at the same credit union, the regular share account is insured up to $100,000 and the IRA is separately insured up to $250,000. However, if you have a regular share account, a share certificate, and a share draft account, all in your own name, you will not have additional coverage. Those accounts will be added together and insured up to $100,000 as your individual account. Additionally, shares denominated in foreign currencies are insured as outlined in NCUA Rules and Regulations.
For more information visit wwww.ncua.gov
We’re Not a Bank, We’re BETTER!!
"They say an Elephant Never Forgets", you won't either with our Online Bill Pay Product! |
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Online Bill Pay is fast and easy!
To Begin Your Free Bill Pay
· Pay bills 24 hours a day, 7 days a week
· Make recurring payments automatically
· Schedule payments in advance
· Stop payments online
· View up to 18 months of payment history
· NO FEES, with usage each month
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Marathon County Employees CU is open 24 hours a day, 365 days a year with Internet Banking. Unlimited access to your account from anywhere in the world, any time of the day or night.
 Two Factor Authentication
Click Here for more Information
Want to know if a check has cleared your MCECU checking account?
No problem! MCECU now offers you the convenience of looking up any check you want, at any time, with home banking.
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Click here to see the newsletter.
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Teens, parents and grandparents:
Announcing our Teen Club
MCECU is committed to starting youth on the path of setting financial goals and saving to reach them. Stop by our lobby to open a Teen Club account for your teenager.
Click here for details.
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We invite everyone to enjoy better rates, lower fees, and the extra attention they deserve!
And remember, MCECU membership is open to all your family members.
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715 261-7680
