The NCUA on Wednesday posted a new four-minute consumer video,Your Money Is Safe, on the agency's YouTubechannel.
|Credit unions interested in using the video to promote federaldeposit coverage can embed it on their websites for viewing bymembers, said Public Affairs Specialist John Fairbanks.
|Your Money Is Safe is the first in a series of NCUAconsumer reports designed to empower consumers to make betterfinancial decisions. Future topics will include improving financialplanning, resolving complaints at credit unions, and avoidingfrauds and scams.
|“At NCUA we're using a variety of channels to communicate toconsumers that their savings are insured up to $250,000 – just likeat banks,” said NCUA Board Chairman Debbie Matz. “This firstconsumer protection report reminds consumers their money is safe infederally 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 shareinsurance fund resource page, how to identify a federally insuredcredit union, and how to use the NCUA's online calculator tomaximize insurance coverage.
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