Insured Funds
Recent news reports have prompted many consumers to question the stability of their financial institutions. Parsons Federal Credit Union has never and will never make any loan that would put a borrower or the credit union at financial risk. We are a sound financial institution with over $157 million in assets.
Plus, our member’s deposits are insured for up to $500,000. Through a combination of share insurance with the National Credit Union Administration (NCUA) deposits at PFCU are insured for up to $250,000 and, up to an additional $250,000 through America Share Insurance (ASI), private, excess share insurance provided to our members at no cost to them.
We encourage you to make sure your deposits are fully insured no matter where you have them. Also, it is very important that you have designated beneficiaries on your accounts. If you need to update your beneficiaries, or have questions about your PFCU accounts, please telephone us at 800-765-4527. Or, the following links may be used to estimate how much your deposits at financial institutions are insured for and if your beneficiaries are qualified:
Parsons Federal Credit Union Accounts: Insured Funds
Excess Share Insurance: American Share Insurance (ASI)
Credit Union Accounts: National Credit Union Administration
Bank, Savings & Loan Accounts: Federal Deposit Insurance Corporation
NCUA Frequently Asked Questions/FAQs |
