NCUSIF

Federally Insured by NCUA

Highmark Federal Credit Union is federally chartered with each member account insured to at least $250,000 by the National Credit Union Administration, an agency of the United States Government.

Your shares in Highmark Federal Credit Union are insured by the National Credit Union Share Insurance Fund (NCUSIF) or the Fund, an arm of the NCUA. Established by Congress in 1970 to insure member share accounts at federally insured credit unions, the Fund is managed by the NCUA under the direction of the three-person NCUA Board.

Share insurance is similar to deposit insurance provided by the Federal Deposit Insurance Corporate (FDIC). Share accounts in federally insured credit unions are insured to at least $250,000, an amount equal to the insurance protection offered by the FDIC. Generally, if a credit union member has more than one account in the same insured credit union, these accounts are added together and are insured to at least $250,000. Individual Retirement Accounts are federally insured to at least $250,000.

All federal credit unions must be insured by NCUA and no credit union may terminate its federal insurance without first notifying its members.

Share insurance coverage offered through the NCUSIF protects members against losses if a federally insured credit union should fail. You can confidently join and conduct business with federally insured credit unions because no member has ever lost money insured by the NCUSIF.

Historically, insured funds are available to members within just a few days after the closing of an insured credit union. Failures of federally insured credit unions are rare because only those with sound operations standards qualify to receive NCUSIF coverage. NCUA also regularly reviews the operations of all federal credit unions and works closely with state regulatory authorities to evaluate federally insured state-chartered credit unions.

For more information, a brochure entitled "Your Insured Funds" is available at NCUA's Internet site.