NCUA
Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. The Emergency Economic Stabilization Act of 2008, signed into law on October 3, 2008, increased the insurance coverage on all accounts up to $250,000.
NOTICE OF CHANGES IN TEMPORARY NCUA INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a ‘‘noninterest-bearing transaction account’’ are insured in full by the National Credit Union Administration 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.
The term ‘‘noninterest-bearing transaction account’’ includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend. It does not include any transaction account that may earn interest or dividends, a negotiable order of withdrawal (‘‘NOW’’) account, money market deposit account, and Interest on Lawyers Trust Account (‘‘IOLTA’’), even if share drafts may be drawn on the account.
For more information about temporary NCUA insurance coverage of transaction accounts, visit www.ncua.gov.
Learn More
The National Credit Union Administration (NCUA) is the federal agency that charters and supervises federal credit unions and insures savings in federal and most state-chartered credit unions across the country through the National Credit Union Share Insurance Fund (NCUSIF), a federal fund backed by the full faith and credit of the United States government.
You may search for information on NCUA by visiting the Share Insurance Tool Kit page at NCUA's website. Please note, you may search for People's Trust using the Is My Credit Union Federally Insured? link. Use keyword PEOPLE and choose TEXAS to find People's Trust.
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