When you trust a financial institution with your hard-earned money, you want to know that it's safe and secure. At Beehive Federal Credit Union, we make it our responsibility to keep your money safe. As an NCUA-insured credit union, we offer our members peace of mind and protection for their deposits. We recognize that many of our members are students or families who work hard each day toward a better financial future. Here’s why Beehive is confident that your money is safest with us:
What is NCUA insurance?
The National Credit Union Administration (NCUA), just like FDIC is an independent agency of the federal government. Its primary purpose is to protect depositors and promote stability in the banking system. NCUA insurance covers deposit accounts, such as checking and savings accounts and certificates of deposit (CDs), up to $250,000 per depositor. This means that if your bank or credit union fails, your deposits are insured up to the limit, and you won't lose your money. Beehive is NCUA-insured, allowing you to sit back and relax knowing that your money is in good hands.
How does Beehive Federal Credit Union ensure the safety of your money?
At Beehive Federal Credit Union, our members' deposits are protected by the full faith and credit of the United States government and by complying with all regulation standards. We maintain strong financial reserves and follow sound financial practices to protect our members' deposits. We are committed to providing our members with the highest level of service and convenience, while also maintaining financial strength and stability.
While NCUA insurance covers up to $250,000 per depositor, there is a further breakdown that allows more of your money to be insured.
So what accounts are insured?
- Individual IRA accounts are insured for up to $250,000 in IRA funds
- Pro tip: If a husband and wife both have individual accounts, their accounts are insured for up to $250,000 each. If they also have a joint account then they are insured for an additional $500,000. The total amount insured comes out to $1,000,000!
- Accounts with more than one owner can be insured for more, considering the amount of owners (e.g. 3 owners means all funds are insured for up to $750,000)
- Two accounts with the same owners are considered one account, so funds will be added between all accounts and the total funds insured is the aggregate amount
Why choose Beehive Federal Credit Union?
When you join Beehive Federal Credit Union, you become part of a community of members who share your values and goals. We offer a range of financial products and services to meet your needs, from checking and savings accounts to loans and credit cards. Our online and mobile banking services make it easy to manage your accounts anytime, anywhere. We have a team of experienced professionals who are dedicated to helping you achieve your financial goals.
When you open an account with Beehive, you gain access to:
- 8 Different Types of Savings Accounts
- 4 Different Types of Checking Accounts
- Debit Cards
- Credit Cards
- Home Loans
- Vehicle Loans
- Consumer Loans
- Business Loans
- And more!
If you're looking for a stable, dependable credit union, Beehive Federal Credit Union is the right choice. As a federally insured credit union with strong financial reserves and a commitment to serving our members' needs, we offer security and convenience for our members. Contact us today to learn more about our products and services and how we can help you achieve your financial goals.
