Your Protected Funds
Your deposits with Minnesota Valley federal Credit Union are insured up to at least $250,000 per account per member by the National Credit Union administration (NCUA). NCUA is an agency of the U.S. Government. Use the NCUA INSURANCE CALCULATOR to structure your accounts for maximum insurance coverage.
The NCUA's deposit insurance is backed by the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF is the federal fund used to insure member deposits in federal insured credit unions such as MVFCU. On July 22, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act permanently established NCUA's standard maximum share insurance amount at $250,000. The NCUSIF is administrated by the National Credit Union Administration (NCUA) and is backed by the full faith and credit of the U.S. Government.
How is NCUSIF Financed?
The NCUSIF maintains at or near 1.30 percent of federal insured credit union deposits. By Law, federal insured credit unions maintain one percent of their deposits in the NCUSIF and the NCUA Board can levy a premium if necessary. Credit Union voluntarily capitalized the fund in 1985 by depositing one percent of their deposits into the fund. No federal tax dollars have ever been placed in the Fund, and no member has ever lost any money insured by the NCUSIF.
For more information on the NCUSIF visit the NCUA WEBSITE.
Members Financial Network
MEMBERS FINANCIAL NETWORK is a suite of online financial tools designed specifically for members of MVFCU. It includes online securities trading, money management tools, financial calculators, access to insurance and other financial products, an online financial library and more. MEMBERS Financial Network provides 24-hour access to solutions to everyday issues like saving money, managing debt, protecting assets and planning for the future. Plus, it gives you access to online securities research and trading.
Long Term Care Insurance
Long Term Care Insurance is now available to MVFCU members through CUNA Mutual Group. The secured, interactive LONG TERM CARE WEBSITE allows you to obtain a personal and financial needs assessment, determine costs for home care, assisted living and skilled nursing home care. The site also helps you contact a Long Term Care Specialist for assistance, apply for coverage and more.