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Metropolitan District Employees' Credit Union (MDECU)
555 Main Street
Hartford CT 06103
860.278.7850, ext 3461
Despite the economically challenging year, the credit unions’
economic growth in 2008 remains solid. This is thanks to the professional
staff, dedicated volunteers and the trust and confidence of our members. Your
credit union management team continuously examines its products and services and
remains on top of a hyper competitive business. We do whatever is necessary to
remain relevant in our members’ financial lives and for generations to come.
Today we continue to make loans the way we always have; with the
safety and soundness of our members’ finances in mind.
Our mission to you is:
To protect, preserve and safeguard the assets of its members; to
offer quality financial services at equitable rates for the benefit of members;
and to promote the CU philosophy of members helping members.
Your Accounts are Federally Insured
CREDIT UNION FEDERAL INSURANCE COVERAGE TO RISE TO $250,000 UNDER
NEW FINANCIAL RESCUE LEGISLATION
·
National Credit Union Administration (NCUA)
insurance is backed by the full faith and credit of the U.S. Government, just
like the FDIC.
·
NCUA insures
accounts up to a minimum of $250,000
·
IRA and KEOGH
accounts are insured separately up to $250,000 providing even more coverage!
FYI:
The shares in your credit union are insured by the
National
Credit Union Share Insurance Fund
(NCUSIF), an arm of
NCUA.
Established by Congress in 1970 to insure member share accounts at federally
insured credit unions, the
NCUSIF
is managed by
NCUA
under the direction of the three-person NCUA Board. Your share insurance is
similar to the deposit insurance protection offered by the Federal Deposit
Insurance Corporation (FDIC).
Here are some important facts to remember about your share
insurance:
·
Not one penny of
insured savings has ever been lost by a member of a federally insured credit
union.
·
As a member of an
insured credit union, you do not pay directly for your share insurance
protection.
·
The
NCUSIF
is backed by the full faith and credit of the United States government.
·
Coverdell Education
Saving Accounts, formerly education IRAs, are insured as irrevocable trust
accounts and will be added to a member’s other irrevocable trust accounts and
insured up to the SMSIA.
For more information, see
www.cuna.org. For more information about
credit union federal insurance coverage, see
www.ncua.gov or
www.creditunion.coop.
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