With the current economic downturn, security of funds has become a top priority for many investors. Each member’s account with California Community credit union is insured up to $500,000 per individual member, per account. Two people on an account would mean $1,000,000 in insured funds, four signers’ means $2,000,000.
At California Community Credit Union, your accounts are protected with share insurance through the National Credit Union Administration (NCUA) up to $250,000 per signer. IRA Accounts are insured separately by NCUA to $250,000. For complete details, click here, or call NCUA at (800) 755-1030.
In addition, California Community Credit Union has chosen to purchase excess share insurance coverage through American Share Insurance, Inc. (ASI) to the amount of $250,000 per account. This combination of federal and private insurance coverage has been providing our members with more coverage than most other credit unions can offer.
California Community Credit Union’s capital remains well above required levels. We have a risk-based net worth that ranks us by our regulators as well capitalized – the highest ranking possible. We remain strong and fully capable of continuing our history of success for our members and our community.