Savings Protection Increased
Did you know that member share savings at TruGrocer Federal Credit Union is protected up to $500,000 — the highest level of combined federal/private share savings insurance available. This exceptional level of protection is made possible through the addition of excess coverage from Excess Share Insurance Corporation (ESI). This coverage is automatic and no action is required on your part.
Accounts are insured to at least $250,000 by the National Credit Union Administration (NCUA), an agency of the federal government. As another service to members, your Credit Union's Board of Directors has chosen to provide up to an additional $250,000 of savings protection, per member, through ESI. And because Individual Retirement Accounts (IRAs) are insured separately, they are now protected up to $500,000 as well ($250,000 by NCUA and $250,000 through ESI). A single member may have up to a total of $1,500,000 in share savings protection through 1) their individual share account, 2) their joint share accounts and 3) their IRA. Avoid the hassle of maintaining savings accounts at multiple institutions and get the best protection at your credit union.
ESI is a wholly owned subsidiary of ASI, the nation's largest private deposit insurer, insuring only credit unions meeting strict underwriting requirements and high standards of performance. If you would like more information about the share savings insurance on your accounts, please contact your credit union branch office.
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The purpose of the TruGrocer Federal Credit Union is to provide innovative, meaningful and value-added financial services to our members that demonstrate the Credit Union's commitment to service, member education, diversity, employees, credit union principles and business practices that ensure financial strength.