Beacon FCU

• In the Spotlight
• Are Your Deposits Safe

Beacon Federal Credit Union is a financially strong and a profitable credit union which is insured by the National Credit Union Share Insurance Fund (NCUSIF).  We are not faced with the problems many other financial institutions are faced with today, namely the mortgage lending problems.

The shares in our credit union (and in every federally insured credit union) are insured by the National Credit Union Share Insurance Fund (NCUSIF), an arm of National Credit Union Administration (NCUA). Established by Congress in 1970 to insure member share accounts at federally insured credit unions, the NCUSIF is managed by NCUA under the direction of the three-person NCUA Board.  Your share insurance is similar to (but separate and independent from) the deposit insurance protection offered to banks by the Federal Deposit Insurance Corporation (FDIC).

As a member of an insured credit union, you do not pay directly for your share insurance protection.  Your credit union pays into the NCUSIF a deposit, and an insurance assessment, based on the total amount of insured shares and deposits in the credit union. Insured credit unions are required to deposit and maintain one percent of their insured shares and deposits in the NCUSIF.  The NCUSIF is backed by the full faith and credit of the United States government.

You may also find the following publications helpful:

*How Your Accounts Are Insured
<http://www.ncua.gov/Publications/brochures/FCUFacts/HowAccountInsured.pdf>

*Your Insured Funds
<http://www.ncua.gov/Publications/brochures/insured_funds/funds.pdf>

*NCUA Increases Retirement Insurance Coverage (Special Bulletin)
<http://www.ncua.gov/ShareInsurance/SpecialBulletin.pdf>

For more information, please visit the NCUA Share Insurance Estimator
<http://webapps.ncua.gov/ins/>