PHILADELPHIA -- Philadelphia Federal Credit Union's board of directors announced that the credit union is now qualified to insure regular member savings accounts up to $350,000 and retirement accounts up to $500,000.
This is the highest combination of federal-private savings insurance available to consumers. PFCU combined the $100,000 per member for savings accounts and $250,000 for retirement accounts that is provided by the NCUA with $250,000 per member provided by the private insurer Excess Share Insurance Corp. (www.excesshare.com).
"PFCUs acceptance into the program reflects the credit union's commitment to safety and security," said President/CEO James McAneney. "This increased level of deposit insurance is just another example of how PFCU is committed to provide our members with the highest quality of financial services available."
--lsiegriest@cutimes.com
