Get some stability back in your

	Get some stability back in your financial accounts. Your credit union has been here since 1961. In light of all the turmoil surrounding the financial industry, President George W Bush, on Friday, October 3, 2008 signed the emergency Economic-Stabilization Act of 2008. The Act temporarily raises the basic limit on federal deposit insurance coverage from $100,000 to $250,000 per depositor. The temporary increase became effective immediately upon the President's signature. This legislation provides that the basic deposit insurance limit will return to $100,000 on December 31, 2009.
What is a Federal Credit Union?		Are credit union deposits safe?
A federal credit union is a cooperative financial institution chartered by the federal government and owned by its members. Federal credit unions offer members a safe place to save and borrow at reasonable prices. The credit union movement started in the United States in 1909 to serve those un-served by traditional banking institutions and as an alterative to pawn shops and pay-day lenders.		Member deposits in federal credit unions are insured up to $100,000 per account (depending on ownership) and $250,00.00 for retirement accounts, by the National Credit Union Share Insurance Fund (NCUSIF) and backed by the full faith and credit of the U.S. Government. Member savings are also protected by a number of provisions in the Federal Credit Union Act and the standard bylaws.
	What can a Credit Union do for You!
Federal credit unions are chartered, supervised and insured by the National Credit Union Administration (NCUA), an agency of the federal government. Visit NCUA at www.ncua.gov for more information.	Credit unions have been able to keep pace with the needs of their members by offering a variety of services in addition to savings and loans. Many federal credit unions, including MCFCU, offer share drafts, certificates, credit and debit cards and retirement accounts. As technology evolves, credit unions are responding by offering transaction services by telephone and personal computer via the Internet. Today's credit unions can be a members Primary Financial Institution.	Some protections are: All persons handling or having custody of credit union funds must be bonded. The affairs of the credit union and the records of the treasurer are audited by the supervisory committee and/or a contracted licensed CPA. The Federal Credit Union Act and Bylaws require fund reserves for uncollectible loans. Credit unions may invest surplus funds only in specified investments.
	Your Insured Funds is available at NCUA’s Internet site http://www.ncua.gov/publications/ brochures/insured_funds/funds.pdf A directory of federally insured credit unions at http://www.ncua.gov/data/directory/ cudir.html. More Information! http://www.ncua.gov/ShareInsurance/ index.htm