Your deposits at Parsons Federal Credit
Union are safe and secure. Every PFCU member’s funds are insured
up to $350,000 by a combination of federal and private insurers: up
to $100,000 by the National Credit Union Administration (NCUA)(up to $250,000 for retirement accounts); and
up to an additional $250,000 by American Share Insurance (ASI).
Savings and checking account deposits under the same account
number are added together and insured up to $350,000
Accounts under different account numbers, with the same combination
of owners, are added together and insured up to $350,000
A member can have his or her own individual account and be
a joint owner on another account, and BOTH are insured separately
up to $350,000.
Multiple accounts (Including Share Certificates)
A member can have an individual account and a multiple savings
account and both are added together and insured up to $350,000
If the “owner” combination is different on a main
account and a multiple account or Certificate Account, BOTH are
insured separately up to $350,000.
IRAs ALWAYS are insured separately for up to an additional
$350,00
