With the recent passage of the national Economic Rescue Package, the NCUA currently insures member share accounts up to $250,000 per member and an additional $250,000 per member for Individual Retirement Account monies. The NCUA is the most secure and strongest of the federal savings insuring agencies. Your funds at the credit union have never been more secure.
This recent increase, matches the insurance of deposits at banks throughout the nation in response to the current economic situation as a result of the collapse of the sub-prime lending market. It is important to note that the U of I Employees Credit Union does not, and has not, offered sub-prime loans, nor has the credit union engaged in other risky lending practices that have led to losses at many lenders. The U of I Employees Credit Union has not been directly impacted by the collapse of the sub-prime mortgage market.
We are examined by both federal and state regulators, and have repeatedly received high ratings for safety and soundness. The U of I Employees Credit Union does not offer sub-prime loans or engage in other risky loan practices that have led to losses at many lenders.
For more than 80 years, members have put their trust in the U of I Employees Credit Union. Surplus funds resulting from our sound lending practices are returned to members through higher dividends, reduced loan rates and service enhancements.