Columbus Metro is dedicated to protecting your hard-earned money.

We provide up to $500,000 in federal and private deposit insurance so that you can feel confident that your deposits are safe and secure.

Your deposits at Columbus Metro are covered by two layers of insurance. The first layer is provided by the National Credit Union Share Insurance Fund, an arm of the National Credit Union Administration and a U.S. government agency. The NCUSIF insures your non-retirement deposits at Columbus Metro up to $250,000, while retirement deposits — including traditional and Roth IRAs — are insured separately up to $250,000. This level of coverage was recently extended and remains in effect through December 31, 2013.

Federal deposit insurance

Your federal share insurance is similar to the deposit protection offered by the Federal Deposit Insurance Corporation (FDIC). Each credit union approved for NCUSIF share insurance must meet high standards of safety and soundness in its operation, and adherence to these standards is determined regularly by federal examiners.

As a member of an insured credit union, you do not pay directly for your share insurance protection. Columbus Metro pays into the NCUSIF a deposit and an insurance assessment based on the total amount of insured shares and deposits in the credit union.

The fund is currently at the strongest and best-reserved level in its history. Historically, deposit insurance funds strive for a ratio of equity to insured savings of at least one percent. The NCUSIF ratio of equity to insured shares and deposits normally ranges from 1.25 percent to 1.30 percent.

If you would like more detailed information on the National Credit Union Share Insurance Fund, or would like to see examples of how accounts are insured, click here for the National Credit Union Administration's Your Insured Funds brochure. NCUA's web site also offers a tool that allows you to calculate the NCUA coverage on your accounts. You may also call the experts at the NCUA Insurance Call Center at 800.755.1030, extension 1, from 8:00 a.m. to 6:30 p.m. Monday through Friday.

Private deposit insurance

To protect your savings with the highest level of insurance available, Columbus Metro has chosen to provide up to an additional $250,000 of savings protection through Excess Share Insurance. This excess share insurance coverage applies to any credit union account that exceeds NCUA's maximim coverage. Our ESI coverage means that your non-retirement deposits are insured up to $500,000, and your retirement deposits are insured separately up to $500,000.

Excess share insurance is available only to qualifying credit unions meeting rigid underwriting requirements and providing monthly financial information to ESI. To receive ESI's added insurance we must file required reports and pay monthly premiums.

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