Despite the news about financial instability in the banking industry, your Credit Union remains financially strong. We invite you to review the most commonly asked questions.
Is my money safe at Castparts Employees Federal Credit Union? Yes. The National Credit Union Share Insurance Fund (NCUSIF) is managed by the National Credit Union Administration (NCUA) and federally insures your accounts to at least $250,000.Â IRAs are insured separately up to $250,000.
To learn more on how to maximize your insured deposits, visit ncua.gov.
Can I increase my coverage? You can increase your insurance coverage by putting money into different ownership types at the Credit Union.
Is there an easy way to determine if my accounts are federally insured? Yes. To evaluate your personal share insurance coverage, visit the NCUAâ€™s online share insurance estimator.
Is Castparts Credit Union well capitalized? Yes. At nearly $44 million in assets, Castpartsâ€™ capital is approximately 12% of total assets. In dollar terms, that's a capital cushion of nearly $5.4 million dollars. Capital is one of the best indicators of your Credit Unionâ€™s financial strength and Castparts Credit Union compares favorably to other financial institutions.
Does Castparts Credit Union make or invest in sub-prime mortgage loans? No. Castparts Credit Union is not involved with sub-prime lending, either as a lender or as an institutional investor.
Does Castparts Credit Union have money to loan? Yes!Â We are still lending to our members, and lending responsibly, as always.
Our financial strength, strong capital position and government-backed federal share insurance means you can rest easy knowing that your money is safe at Castparts Credit Union. If you have any questions, please call us at (503) 771-2464.
Itâ€™s easy to keep up to date with whatâ€™s going on at your credit union with our Quarterly Newsletters. For your convenience, weâ€™ve posted the 2016 editions. Simply click on each link to open the pdf in a separate window (requires Adobe Reader).
Serving Our Members Since 1957 Questions, Comments, Suggestions? Email the Webmaster Copyright 2007-2016 Castparts Employees Federal Credit Union All Rights Reserved