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Amid the turmoil of the financial world today, the foremost question on everyone’s mind is: Are my deposits safe?
At STAR Credit Union your deposits are safe. STAR Credit Union is a secure and strong financial institution with over 15% reserves (8% is considered well capitalized). STAR Credit Union has never been involved in the sub-prime mortgage market. We have always practiced responsible lending.
Deposits in STAR Credit Union are federally insured up to $250,000 by the NCUA, through the National Credit Union Share Insurance Fund (NCUSIF). NCUSIF is backed by the full-faith and credit of the United States Government.
In addition, the Board of Directors of STAR Credit Union have chosen to provide an additional $250,000 of savings coverage to qualifying accounts through ESI, a licensed property and casualty insurance company.
The short answer to your question is: Your funds are safe at STAR Credit Union.
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