As of October 3, 2008, your funds are now federally insured up to $250,000 by NCUA, a U.S. government agency. This change is a result of the Emergency Economic Stabilization Act passed by Congress. When you trust Park Community with your hard earned money, you can have peace of mind knowing your money is safely insured.
Many of you have seen the negative press about the mortgage crisis and you may have wondered if there are any similar problems at your credit union. We want to assure you that Park is well capitalized, and that there are no problems.
Park Community did not compromise its’ credit standards to make any of the sub-standard or sub-prime loans that you have heard about in the media. Park Community has maintained our philosophy of providing products and services in the best interest of our members. We have not put our members into mortgages which they cannot afford.
Member accounts at Park Community Federal Credit Union are insured by the National Credit Union Share Insurance Fund (NCUSIF). This insurance fund was established by the Congress in 1970 and is backed in full faith and credit of the United States Government. Not one penny of insured savings has ever been lost by a member of a federally insured credit union. . .
Individual member accounts in federal credit unions are insured up to $250,000. Certain retirement accounts, such as Traditional IRA’s and ROTH IRA’s are separately insured for up to an additional $250,000.
Generally, if an individual member has more than one account in the same credit union, those accounts are added together and insured in aggregate up to $250,000. There are exceptions. You may obtain additional separate coverage on multiple accounts if there are different or additional ownership interests.
NCUA Unveils Share Insurance TV Ad Campaign
http://www.youtube.com/watch?v=4BB04N7UoVQ
For additional information on types of accounts and your insurance visit:
http://www.ncua.gov/Resources/ShareInsurance/NCUA%20Share%20Insurance%20and%20You.pdf
The following link is a share insurance estimator which can help you determine what type of http://webapps.ncua.gov/Ins/ category that each account falls into.
Statement from NCUA Chairman Johnson that shows that the credit union share insurance system is in good shape: http://www.ncua.gov/news/press_releases/2008/MR08-0714.htm
Credit Union National Association reports that America's credit unions are still safe harbor for consumer savings: http://www.cuna.org/download/CUs_Secure_Strong.pdf
Download: Park Community Annual Report 2009
Park Community Federal Credit Union
|
Toll Free: (800) 626-2870 
Privacy Policy 
Website Design by Avtec Media