Your Insured Funds
Each member's account is insured to at least $250,000 and backed by the full faith and credit of the United States Government by the National Credit Union Administration (NCUA), a U.S. Government Agency.
For further NCUA information, click the link below,
NCUA Home Page
CP Federal Credit Union is a strong financial institution with $36 million available in reserves, 12% of assets, and classified as “well-capitalized” under the standards set by the NCUA.
Even with the tightening of credit in the banking industry, CPFCU is able to continue to offer competitive rates and member benefits. We have not engaged in sub-prime lending and we hold the vast majority of our mortgage loans in-house.
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To hear more about NCUA from their Vice Chairman, Rodney Hood, CLICK HERE
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To hear more about CUNA from their President/CEO, Dan Mica, CLICK HERE
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To calculate your insured funds through the NCUA CLICK HERE
Individual accounts: insured to at least $250,000 for each member with an individual ownership account (no others joint with access to account, can have a beneficiary on the account)
IRA Accounts: insured to at least $250,000 for each account. IRAs are individual retirement accounts and can not have any joint ownership only beneficiary.
Joint Accounts: insured to at least $250,000 per owner with joint ownership (does not include beneficiaries) this coverage is separate from individual account insured amounts. However, if a member is joint on more than one account the joint coverage for that person will still be $250,000 total for their multiple joint accounts.
Revocable Trusts: insured as an ordinary joint account unless the beneficiary of the trust is someone other than the Settler/Trustee of the account.
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