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Safe, Sound, and Smart

You work hard for your money so the last thing you want to do is worry about its safety once it's deposited into your account. Amidst challenging economic times, members have voiced some concerns about the security of their credit union accounts and the level of insured funds in reaction to news media stories reporting that only FDIC-insured institutions are safe. On the contrary, your credit union is secure and strong. It's important to remember that your credit union is fully covered by federal insurance, is healthy and well-capitalized, is not part of the subprime mess, and is a safe harbor for your savings.

In fact, credit union members' funds are federally insured to a minimum of $250,000 and certain retirement accounts are insured up to an additional $250,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency backed by the full faith and credit of the U.S. Government. NCUA account protection is identical to the Federal Deposit Insurance Corporation (FDIC) protection. Overall, credit unions are well capitalized which means they are able to weather problems caused by the current economic environment.

Steering clear of the subprime mess and noted for lending responsibly, credit unions generally did not get involved in the subprime mortgage loan market, unlike other financial institutions. However, with soaring gas prices and higher cost of living expenses, people are struggling to make payments on loans above and beyond their mortgage because of our troubled economy. So, credit unions throughout the country have kept with sound lending practices for members.

Savvy money management can make all the difference in uncertain times. Therefore, credit union members can benefit by learning more about the guidelines provided by the NCUA on structuring accounts to maximize the amount of insurance received. For more information, visit the NCUA share insurance website at http://www.ncua.gov/ShareInsurance/Index.htm or call the NCUA Insurance Call Center toll-free at 1-800-755-1030, extension 1. Operating from 8 a.m. to 6:30 p.m. (EDT) Monday through Friday, they have insurance experts available to answer questions about the coverage provided by NCUA share insurance.

Operating as not-for-profit cooperatives credit unions typically offer higher savings rates than banks. See for yourself by visiting http://www.creditunion.coop/ratedex.php. In fact, did you know that consumers nationally saved $10.9 billion nationally last year by using credit unions rather than banks? The savings come in the form of lower fees, higher savings rates and lower loan rates. That works out to about $126 per credit union member or $239 per household. So, in addition to being a safe and secure place for your money, your credit union is also a financially smart choice.

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Need extra cash for the holidays this year? Treat yourself to a low-interest rate loan from Perry Point FCU and tackle your holiday shopping with money in your wallet.

With our Holiday Loan, qualified members can borrow up to $3,000 for 12 months. Rates are as low as 8.9% APR if you pay your loan by automatic payments. Holiday Loans are available until January 31, 2009. Apply online today!

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Surcharge-free ATMs

Will you be traveling to visit family and friends for the holidays? No matter where your holiday travels take you across America, one of our 32,000 surcharge-free ATMs will be near, so you can access your account.

To find a surcharge-free ATM close to where you're going, visit our website and look for the Allpoint ATM locator box on our home page or go to the top right of this page. Enter the zip code where you'll be traveling and click on GO. You'll get a list of the ATM locations where you can use your Perry Point FCU debit or ATM card to get cash without paying a surcharge.

If you're traveling and don't have access to a computer, you can call us toll-free at 1-800-625-6336 during business hours and we'll look it up for you.

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