Wednesday, March 31, 2010
The more you understand about any subject, the more interesting it becomes. As you read this article you'll find that the subject of Banking Services is certainly no exception.
Credit unions have become a major force on the financial landscape of America. Until recently, many members looked to credit unions just for auto loans. Now a much wider range of financial needs is being met, including mortgages, refinancing, credit cards, online bill payments, ATM services, and more. Expansion to underserved parts of the community is having an impact. Credit union employment now exceeds 258, 000!
Credit Unions Massachusetts Statistics
* 2. 3 million People in Massachusetts are already enjoying the benefits of credit union membership. If you are a Massachusetts resident, you probably qualify for membership either through your employer, civic organization or place of residence.
Credit Unions Massachusetts, A Safe Place to Save,
Deposit insurance, supervision, and conservative management.
All credit unions in Massachusetts obtain their members' deposits insured by the National Credit Union Share Insurance Fund ( NCUSIF ). The National Credit Integrity Administration ( NCUA ) logo that appears on a credit union's door or on its marketing materials tells the consumer that his or her deposits of developing to $250, 000 are protected by the full faith and credit of the United States government ( the protection is identical to that provided by FDIC to bank customers ).
If you find yourself confused by what you've read to this point, don't despair. Everything should be crystal clear by the time you finish.
Credit unions capitalize this money and no taxpayer money has ever been used to support the NCUSIF. This fund is administered by the NCUA which also regulates federally chartered credit unions. In addition to NCUA insurance, Massachusetts state chartered credit unions are covered by MSIC, the Massachusetts Credit Union Share Insurance Corporation which provides insurance for deposits over the $250, 000 limit.
What makes an grouping secure isn't insurance, however.
The fit-out of regulatory control, prudent weight and careful investment make credit unions safe places to save and invest.
Credit Unions Massachusetts Business Partners
* CUNA Mutual Insurance Group
* Fidelity Information Services ( formerly Certegy )
* CUDL Point - of - Purchase Auto Lending
* CenterOne Financial Services
* Financial Service Centers Cooperative, Inc.
* CO - OP Financial Services ATM Network Membership
* Counterfeit Cop
Hopefully the sections above have contributed to your understanding of Banking Services. Share your new understanding about Banking Services with others. They'll thank you for it.