Dan Mica talks about Federal Insurance

NCUA_Video

Watch above to see Dan Mica talk about federal insurance for your savings at credit unions.
September 30, 2008

A message from your CEO, David Southall

Facts about your savings at Innovations FCU

Innovations Federal Credit Union continues to be a financially strong, fiscally responsible credit union—a fact that should reassure all members alarmed by the recent bank failures. We did not participate in the sub-prime mortgage lending practices that have caused trouble for so many other financial institutions. Additionally your credit union is very well capitalized. You can feel secure about investing your money with us.

All deposits in Innovations FCU are insured by the National Credit Union Share Insurance Fund which is administered by the National Credit Union Administration (NCUA), The NCUA examines us every 12 to 18 months. Additionally, independent auditors conduct examinations at least once a year. This credit union has consistently been determined by the examiners and auditors to be operating within the highest standards of safety and soundness.

Innovations Insured Funds:
  • All Innovations deposits are insured up to $250,000 by the NCUA
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  • Deposit accounts include: Checking Accounts, Share Savings Accounts, Money Market Accounts and Share Certificates
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  • All Innovations IRA deposits (such as IRA Contributory Accounts and IRA Share Certificates) are insured up to $250,000 by the NCUA
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  • If you have more than $100,000 in deposits at Innovations FCU please use this estimation calculator provided by the NCUA to determine your coverage: www.ncua.gov/ShareInsurance/Index.htm

    • For more information:
    Our financial statements are posted in each branch. An NCUA publication, Your Insured Funds, is available in our branches, or you can go directly to the NCUA website and print a copy at this link: www.ncua.gov/Publications/brochures/insured_funds/funds.pdf

    I hope this information will address your questions or concerns. Let me assure you that even in rough economic times you can feel confident entrusting Innovations FCU to safeguard your hard-earned savings. Finally, if you have additional questions or concerns please do not hesitate to call us directly at 850.233.4400 or 1.800.291.6272, or visit any of our branch locations.

    Sincerely,
    David A. Southall
    President/CEO

    The NCUA Insurance Call Center, operating from 8 a.m. to 6:30 p.m. (EDT) Monday through Friday, has insurance experts available to answer questions about the coverage provided by NCUA share insurance. The toll-free Insurance Call Center number is 1-800-755-1030, extension 1.