Chaco Credit Union
Safe and Strong Through Troubled Times

With reports in the news of some financial institutions facing losses and other problems due to subprime mortgage lending and the credit crunch, you may be wondering about the financial stability of places where you do business. We'd like to reassure you that Chaco CU remains strong, safe and secure.

We continue our commitment to provide you with excellent financial products and services, and we have the resources to back up that pledge. Our sound lending practices and service-oriented policies allow us to continue to prosper even during troubled economic times.

Federally Backed Security
You can enjoy added peace of mind knowing that your deposits are federally insured through the National Credit Union Administration (NCUA), a U.S. government agency. The NCUA is backed by the full faith and credit of the U.S. government. Not one penny of insured savings has ever been lost by a member of a federally insured credit union. Under newly passed legislation, each account holder's funds are insured to at least $250,000 until Dec. 31, 2009, and retirement accounts such as individual retirement accounts and Keoghs are separately insured up to $250,000.*

If your savings exceed the amount covered by the basic insurance limits, you can extend your NCUA coverage by establishing different types of accounts. The NCUA insures accounts in different ownership categories separately. You can get up to $250,000 of additional insurance for your interest in accounts owned jointly with someone else and for trust accounts of which you are a beneficiary. Also, your board of directors has chosen to provide an additional $250,000 of savings coverage to qualifying accounts through ESI, a licensed property and casualty insurance company. This supplemental share insurance coverage from ESI has been available to credit unions since 1993. Members exceeding the maximum level of coverage provided by the NCUA are insured up to an additional $250,000 by ESI. For example, if a member has a savings account, checking account and certificate of deposit at the credit union that when added together totals $140,000 … $100,000 is insured by the NCUA with the remaining insured by ESI. Deposit insurance is provided on a dollar-for-dollar basis and is payable only upon the failure and liquidation of the credit union.

Detailed information about NCUA insurance, as well as a calculator that you can use to estimate your coverage, is available at the NCUA Web site, www.ncua.gov. You can also find financial reports for Chaco CU there. For more information about Excess Share Insurance visit the Information on Increased Share Insurance PDF.

We're Here for You
A friendly, helpful member service representative would be happy to answer your questions and help you explore ways to increase your NCUA coverage. Call 513-785-3500 or stop in today!