Compass Community Credit Union now offers its members share insurance up to $1,250,000. This exceptional level of coverage is attained through a combination of federal insurance provided by the National Credit Union Administration (NCUA) and private insurance from American Share Insurance (ASI).
NCUA’s federal coverage insures credit union members’ deposits up to $250,000. Accounts exceeding the maximum level of coverage provided by NCUA are now also insured up to an additional $1,000,000 through ASI.
“I am excited to offer this extra level of share insurance, providing our members with peace of mind knowing their deposits are safe and secure,” said Compass Community Credit Union CEO, Ray Litchfield. “Compass Community Credit Union has been supporting the people in our local communities since 1951. Our credit union is managed for the long-term by prioritizing sustainable practices resulting in a strong financial position”.