The NCUA on Wednesday posted a new four-minute consumer video, Your Money Is Safe, on the agency’s YouTube channel.
Credit unions interested in using the video to promote federal deposit coverage can embed it on their websites for viewing by members, said Public Affairs Specialist John Fairbanks.
Your Money Is Safe is the first in a series of NCUA consumer reports designed to empower consumers to make better financial decisions. Future topics will include improving financial planning, resolving complaints at credit unions, and avoiding frauds and scams.
“At NCUA we’re using a variety of channels to communicate to consumers that their savings are insured up to $250,000 – just like at banks,” said NCUA Board Chairman Debbie Matz. “This first consumer protection report reminds consumers their money is safe in federally insured credit unions.”
The video explains how the National Credit Union Share Insurance Fund protects deposits. The segment also educates consumers about the NCUA’s share insurance fund resource page, how to identify a federally insured credit union, and how to use the NCUA’s online calculator to maximize insurance coverage.