NCUA Increases Account Insurance Up to $250,000
The Emergency Economic Stabilization Act of 2008, signed into law on October 3, 2008, increased the insurance coverage on all accounts up to $250,000 through December 31, 2009. Previously accounts were insured up to $100,000. This increase is in response to the concerns about the recent economic conditions.
This insurance protects members against losses if a federally insured credit union should fail. You can confidently join and conduct business with federally insured credit unions because no member has ever lost money insured by the National Credit Union Share Insurance Fund (NCUSIF). As a result Mid-Kansas Credit Union members can be assured that their accounts are secure.