Untitled 1

Skip to content Skip to footer site map

MyCreditUnion.gov

Misc Options Navigation

Main Navigation

  • Home
  • Learn About Credit Unions
    • Historical Timeline of Credit Unions

      As not-for-profit depository institutions, credit unions were created to serve members as credit cooperatives.

    • How is a Credit Union Different than a Bank?

      In the United States, credit unions are not-for-profit organizations that exist to serve their members rather than to maximize corporate profits.

    • How to Find a Credit Union in Your Area

      Once you select a specific credit union, you can view more details about that credit union, including contact information, branch locations, services offered, and recent financial statements.

    • How to Join a Credit Union

      Anybody can join a credit union. Each credit union serves what’s called their “field of membership” – that’s the commonality between the members.

    • How to Start a Credit Union

      If your group is eligible, NCUA's staff will assist you with preparing an application for a charter and see that your group receives guidance in getting your federal credit union started.

    • Is a Credit Union Right for Me?

      Because credit unions are not-for-profit financial institutions, their focus is serving the financial needs of their members and not making a profit.

    • Credit Union and Bank Interest Rate Comparison

      In general, credit unions offer higher savings rates, meaning that your money grows faster, and lower rates on loans, meaning that you will owe less over the lifetime of the loan.

    • Learn More About Your Credit Union

      NCUA makes financial information about credit unions available to the public through Financial Performance Reports (FPRs).

    • Low Income Credit Unions

      Credit unions provide valuable access to financial services for people underserved and unserved by traditional financial institutions.

    • Understanding Differences in Federal vs. Privately Insured Credit Unions

      Federally-chartered credit unions are regulated by the National Credit Union Administration and insured by the National Credit Union Share Insurance Fund, which is backed by the full faith and credit of the United States government.

    • What is a Credit Union?

      A federal credit union is a cooperative financial institution chartered by the federal government and owned by individual members.

  • Protect Your Finances
    • Consumer Protection Update

      Watch the latest NCUA Consumer Protection Update video to learn about important updates and changes that may affect you as a consumer."

    • Credit Reports and Credit Scores

      It’s a good idea to monitor your credit report on a regular basis to make sure that the information is accurate. You can also verify that no one has stolen your identity to make fraudulent charges.

    • Share Insurance Coverage

      Federally insured credit unions offer a safe place for you to save your money, with deposits insured up to $250,000, per individual depositor.

    • Online Financial Safety Tips

      When performing transactions on your credit union's website, it's wise to make sure that the website is legitimate and that your deposits are federally insured.

    • Prevent Identity Theft

      If you believe that someone has stolen your identity, you should contact any credit union, bank or creditor where you have an account that you think may be the subject of identity theft.

    • Frauds and Scams

      NCUA reports on frauds and scams aimed at credit union members. In this section, we provide an overview of recent activity.

    • Scams Targeting Seniors

      America's growing senior population is vulnerable to a broad range of financial crimes. In this section, NCUA provides tips on how seniors can protect themselves from fraud.

    • Tips for Young Adults

      Credit unions offer young adults desirable, affordable financial services, as well as the advantage of personal service developed to help them grow their savings. Many credit unions offer services within schools or have student-run branches.

    • Pocket Cents

      Learn about the history of money, different currencies used around the world, the power of dividends and how to be smart about preparing for your financial future with Pocket Cents from NCUA.

    • Understand Your Privacy Rights

      Federal privacy laws give you the right to stop (opt out of) some sharing of your personal financial information. The law permits your financial companies to share certain information about you without giving you the right to opt out.

  • Financial Tools and Resources
    • Brochures and Graphics

      These brochures and graphics may be linked, downloaded, or printed.

    • Calendar of Events

      View a listing of upcoming events, designations, and opportunities for each month.

    • College Scorecard

      Plan your entire financial aid packages online for all of the schools that you are considering.

    • Consumer Loan Calculator

      Explore your consumer loan, including the effect of adjusting number of payments, principal and interest rate on your monthly payment.

    • Consumer Resources

      Use these references and tools to make better informed financial decisions.

    • FAQs

      Locate answers in the Knowledge Base to a wide variety of frequently asked questions.

    • Games and Activities

      Test your financial knowledge with these games and activities for all ages.

    • Glossary

      Become an educated consumer by taking the mystery out of commonly used financial terms.

    • Lesson Plans and Resources

      Educators and parents can use these plans and resources to teach youth, tweens, and teens about saving, spending, budgeting, and the value of money.

    • Mortgage Loan Calculators

      Compare monthly payments and the amount of equity you would build with several kinds of fixed and adjustable rate mortgages.

    • Personal Budgeting Worksheet

      Take a close look at your income and expenses with this helpful worksheet that can identify where you might have room to save.

    • Savings & Retirement Calculator

      Get estimates based on your actual Social Security earnings record with this calculator.

    • Share Insurance Estimator

      Are your deposits insured? Find out with NCUA’s electronic Share Insurance Estimator.

    • Videos

      View NCUA's Consumer Report and Consumer Protection Update videos on current financial hot topics.

  • Credit Unions and You
    • Dealing with Debt

      Bill payer services, or debt consolidation services, can help consumers preserve their credit scores by merging debts and establishing a workable schedule to pay down money owed to creditors through a single monthly payment.

    • Buying A Car

      It's important to know how to make a smart deal. Your credit union can discuss car loan options with you.

    • Paying off Credit Cards

      Read your statement carefully for information about how long it would take to pay off your account balance if you only pay the minimum payment. It can take years, even decades, to pay it off.

    • Home Ownership and Mortgage Options

      Once you are ready to buy a home, consult your credit union about competitive interest rates and to find out about your mortgage options, including the term of the loan and the conditions.

    • Mortgage Modifications

      NCUA encourages credit unions to work constructively with residential mortgage borrowers who may be unable to meet their contractual payment obligations.

    • Preparing for Retirement

      Between longer life expectancies and fewer employers offering traditional pension plans, it’s a good idea to take an active role in planning for retirement.

    • Saving for College

      Whether you are saving for your own education or for your children’s, it’s wise to start planning for college as soon as possible.

    • Short Term Loans

      Payday loans (a.k.a. deferred advance loans, cash advance loans, check advance loans, post-dated check loans, or deferred deposit check loans) are loans borrowers promise to repay from their next paycheck or salary deposit.

Pocket Cents
  • Youth

    Have you ever thought about why money is worth anything? It's just paper and ink, or a small piece of stamped metal. To do a lot of things we need to use money. Money can give you choices and independence. Have you ever thought about how you could earn your own money? Or, how much money you should you save? The way you manage your money could determine if are able to buy food, a movie ticket, a pair of jeans, just about everything. Learn about the history of money, why we use it, how to save it, and how to protect it.

  • Teens and Tweens

    You may be thinking about your first checking or savings account, your first job, or even your first car. Soon, you will have the opportunity to pursue your dreams. You could go to college, launch your career, or start a business. No matter what you decide, you will need money to make it happen. It's never too early to learn smart financial habits. Whether saving a portion of a weekly allowance or understanding the deductions on the pay stub from a first job, good money management skills can last a lifetime. In this section, you will not only learn how to prepare financially for life after high school, but also how to avoid scams and common money mistakes.

  • Young Adults

    Are you prepared to make wise and informed financial decisions? Do you know how to recognize predatory credit offers? Can you balance a checkbook? Do you have a savings plan? Smart financial choices you make today could help you can achieve that new car purchase, or sail through an apartment lease or mortgage application. However, money mistakes when you're just starting out can leave you in debt and ruin your credit score. Learn how to live within a budget, handle credit and debt, and build a solid financial foundation for your future.

  • Parents And Educators

    How do you teach kids about money? It may be as simple as talking about your job, taking a trip to the grocery store, or opening a savings account at a credit union to deposit allowance and birthday money. The bottom line is that it’s never too early to start teaching children smart financial habits and the value of money. Educating, motivating, and empowering kids to become regular savers will enable them to keep more of the money they earn. Whether at home or in the classroom, this section will provide you with the tools and resources to teach kids how to grow into financially responsible adults. The reward could mean a life free from the anxieties of debt.

  • Seniors

    Did you know that seniors account for almost 30% of all fraud victims? Whether you are looking for information for yourself or for a loved one, in this section you will learn how to defend against these scams, as well as, find information on reverse mortgages, prepaid funerals, emergency savings, and long-term care. Additionally, you will find articles that will help with money management, post-retirement planning, and maximizing government benefits.

  • Marriage and Family

    You may have a retirement account. But, do you really know how much you should be saving? Do you budget to save, and not just when you have extra money left over in your paycheck? Have you thought about saving for college? Does your family have an emergency fund? Anyone can learn how to save money and invest in their future. In this section, you will learn how to take control of your financial future, including how to defend against fraud and scams, tips on buying a car or home, how to handle credit and debt, and information about credit reports.

  • Servicemembers

    Are you financially ready? Servicemembers and military families face unique financial challenges, whether on active duty, returning to civilian life, or living as a veteran. In recent years, servicemembers have joined the ranks of those who are considered most vulnerable to predatory lenders and identity theft. Most military families today are not saving adequately for retirement, and many do not have an emergency fund. In this section, you will learn how to protect yourself from financial vulnerabilities, as well as, how to budget, save, and handle debt and credit. Additionally, learn about free financial resources, benefits, and special protections offered by the U.S. government for servicemembers and their families.

Online Financial Safety Tips

Be Smart Online.

The internet makes many everyday tasks faster and more convenient, like shopping, researching products, banking, searching for health information, and communicating on the go. Get tips for being safe and making the most of your time online.

Secure Your Computer

The internet gives you access to countless products and services. At the same time, it can leave you open to scammers, hackers, and identity thieves. Learn experts' top tips for how to protect your information and your computer while online. Read more.

Protect Kids Online

Kids have lots of opportunities for socializing online, but they come with certain risks. Parents can help reduce these risks by talking to kids about making safe, responsible decisions.

The Children's Online Privacy Protection Act (COPPA) helps you protect your children's privacy. Enforced by the Federal Trade Commission (FTC), COPPA requires websites to get parental consent before collecting or sharing information from children who are under 13 years old.
Take advantage of your COPPA rights. Your child's personal information is valuable, and you can do a lot to protect it. Read more.

Credit Union Website Legitimacy and Share Insurance

When performing transactions on your credit union's website, it's wise to make sure that the website is legitimate and that your deposits are federally insured. Here are some tips specifically designed for members to consider when performing credit union transactions over the Internet.

Read key information about the credit union posted on its website

Most credit union websites have an “About Us” section or something similar. You may find a brief credit union history, its name and address, and information about its insurance coverage.

Protect yourself from fraudulent websites.

For example, watch out for copycat websites that deliberately use a name or web address very similar to, but not the same as, that of a real credit union. The intent is to lure you into clicking onto their website and giving your personal information such as your account number and password. Always check to see if you have typed the correct website address before conducting any business.

Check the credit union's insurance status and website address.

To check a credit union's insurance status, look for the official NCUA logo or the words “Insured by NCUA” on the website. To independently verify a credit union's insurance status or website address, you can check NCUA's online database of credit unions. From the “Find a Credit Union” page, enter the first letters of the credit union's name or the city and state and click the “Find” button.

A positive match will display the credit union's information, including website address ("URL"), on the screen. The credit union type code also appears. This code indicates whether NCUA insures the accounts at the credit union. There are three different credit union types:

  1. Federal credit union (NCUA-insured)
  2. Federally-insured state-chartered credit union (NCUA-insured)
  3. Non-federally insured state-chartered credit union (not NCUA insured)

Please remember that not all credit unions operating on the Internet are insured by NCUA. Only federal credit unions and federally insured state-chartered credit unions are insured by NCUA. Check with your credit union or NCUA if you are not sure of your credit union's insurance status.

Realize that not all financial services offered via a federally insured credit union's website are necessarily NCUA-insured.

Federally insured credit unions offer a safe place for you to save your money, with deposits insured up to $250,000 per individual depositor. NCUA is the independent agency that administers the National Credit Union Share Insurance Fund (NCUSIF). Like the FDIC's Deposit Insurance Fund, the NCUSIF is a federal insurance fund backed by the full faith and credit of the United States government.

The NCUSIF insures member savings in federally insured credit unions, which account for about 98 percent of all credit unions in the United States. Deposits at all federal credit unions and the vast majority of state-chartered credit unions are covered by NCUSIF protection.

How Do I Know If My Credit Union Is Federally Insured?

Official NCUA share insurance sign
Official NCUA share insurance sign

All federally insured credit unions must prominently display the official NCUA insurance sign at each teller station and where insured account deposits are normally received in their principal place of business and in all branches. Federally insured credit unions are also required to display the official sign on their Internet page, if any, where they accept deposits or opens accounts. No credit union may end its federal insurance without first notifying members.

NCUA share insurance covers all types of deposits received at a federally insured credit union, including deposits in a share draft account, share savings account, or time deposit such as a share certificate. NCUA insurance covers members' accounts at each federally insured credit union, dollar-for-dollar, including principal and any accrued interest through the date of the insured credit union’s closing, up to the insurance limit. This coverage also applies to nonmember deposits when permitted.

NCUA does not insure money invested in stocks, bonds, mutual funds, life insurance policies, annuities or municipal securities, even if these non-deposit investment or insurance products are sold at a federally insured credit union. Credit unions often provide these services to its members through third-parties. The non-deposit investment and insurance products offered by third parties are not insured by the National Credit Union Share Insurance Fund (NCUSIF). In locations where non-deposit investment and insurance products are recommended or sold to members, credit unions are required to disclose that the products are:

  • not insured by NCUA;
  • not deposits or other obligations of the credit union and are not guaranteed by the credit union; and
  • subject to investment risks, including possible loss of the principal invested.

In addition, NCUA does not insure safe deposit boxes or their contents. NCUA does not insure U.S. Treasury bills, bonds or notes, but these investments are backed by the full faith and credit of the United States government.

http://www.onguardonline.gov 

Remember that non-financial websites that are linked to your credit union's site are not NCUA-insured. As an added convenience to their members, some credit unions offer online links to other sites. An outside company's products and services are not insured by NCUA, and your credit union may not guarantee the products and services. As in everyday business, before you order a product or service online, make sure you are comfortable with the reputation of the company making the offer. Only then should you give out your credit card or debit card number. Never provide personal information to a third party unless you initiated the transaction.

Keep Your Transactions Secure.

The Internet is a public network. Therefore, it is important to learn how to safeguard your credit union account information, credit card numbers, Social Security number, and other personal data.


 

Additional Articles:



Untitled 1