As a LA Financial Credit Union member, you can be assured that your deposits are safe here. The credit union maintains 8.20% in capital reserves—which protects the institution in times of economic downturns—and is a measurement of strength that few banks or credit unions can match, nationwide. The credit union's strength is backed by federal insurance—the full faith and credit of the United States government. LA Financial's deposits are federally insured up to $250,000 per member by the National Credit Union Administration (plus another $250,000 on your IRA).
Your combined balances in your LA Financial savings, checking, money market, and certificate accounts are insured up to $250,000. However, your accounts can be structured for additional coverage. Please visit the NCUA's Share Insurance Estimator for more information. A summary brochure, provided by the NCUA, is available by clicking here.
Notice of Changes in Temporary NCUA (National Credit Union Administration) Insurance Coverage for Transaction (Checking) Accounts
All funds in a "noninterest-bearing transaction account" are insured in full by the NCUA through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to members under the NCUA's general share insurance rules.
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