During such a challenging economic time many are wondering where and
with whom their hard earned dollars are secure. The answer: a credit
union. The reasons for this are tied to the cooperative business model
and philosophy of all credit unions which is:
“Not-for-profit, not for charity, but for service”
Credit unions, like REALTORS® Federal Credit Union, are owned by their members. We have a Board of Directors
who set the policies and strategic direction for the credit union.
REALTORS® Federal Credit Union, A Division of Northwest Federal Credit Union has no outside shareholders trying to
encourage risk and maximize profit. Here at REALTORS® Federal Credit Union, A Division of Northwest Federal Credit Union we are fully committed
to the financial needs of our members.
Both the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Share Insurance Fund (NCUSIF)
provide individual depositors with deposit insurance up to
$250,000 backed by the full faith and credit of the United States
government. In other words: same insurance, different agencies.
- The National Credit Union Administration
(NCUA) is an independent federal government agency that charters and
supervises federal credit unions and insures accounts in federal and
most state-chartered credit unions across the country through the
National Credit Union Share Insurance Fund (NCUSIF), a federal fund
backed by the full faith and credit of the United States government.
- The FDIC was originally funded by American taxpayers and has since
been “bailed out” twice by American taxpayers as late as the early
1990s. There is not now nor has there ever been a dime of taxpayer
money in the NCUIF.
For more information about credit unions listen to Jane Bryant Quinn,
a nationally respected finance expert, talk about how your funds are
federally insured and safe with NCUA coverage. Financial expert Suze Orman also outlines how credit unions are secure in this video.