Your Money Is Safe, Secure, and Doubly Insured at PECU

PECU understands that having peace of mind about your money is extremely important. We are very proud of our financial strength and stability. Each member’s deposits are federally insured through the National Credit Union Administration (NCUA) and backed by the full faith and credit of the United States government to $250,0000. In addition, PECU purchases another $250,000 per member of private insurance at no cost to our members. This means all PECU members have $500,000 of their deposits insured.

You can, however, have even more coverage for your money at PECU.  What follows is an example of how two individuals can receive up to $2 million of coverage.

For this example, you and your spouse could both structure your accounts to receive up to $2 million of coverage.

  1. You can open an individual account and receive $250,000 of NCUA federal coverage, plus another $250,000 of coverage from the private insurer.
  2. Your spouse can do the same.
  3. In addition, you and your spouse can open a separate joint account with $500,000 of NCUA federal coverage, plus another $500,000 of coverage from the private insurer.

Hence, you now see how two individuals can qualify for $2 million of deposit coverage.

What’s more, PECU members with IRA accounts have an additional $500,000 of insurance protection, separate and apart from other accounts.

PECU cares. We want you to know that not a single penny of insured savings has ever been lost by a member of a federally insured credit union. We are a safe haven for your deposits.

Still have questions or need to increase your coverage? Please contact our Financial Services department at 800-772-1955.