As an RTN member, you can have peace of mind knowing your share deposit accounts are fully insured.
The first $250,000 you have in a deposit account (checking/savings/certificate) and the first $250,000 you have in an IRA are insured by the National Credit Union Administration (NCUA) Share Insurance Fund, an agency of the United States Federal government. This means an individual may receive NCUA insurance up to $500,000 if they have a deposit account and an IRA with us.
If you have a joint account with another individual, that account is insured by NCUA up to $500,000 ($250,000 for each individual). Furthermore, all IRAs held by both individuals are insured to an additional $250,000 each, so in this example, the total insurance through NCUA would be $1,000,000.
All excess funds above the federal insurance limit are fully insured by Massachusetts Share Insurance Corporation (MSIC). This provides an additional layer of protection for your funds. No matter the amount you have on deposit with us, your funds are 100% insured.
If you have any questions about insurance protection on your funds held at the Credit Union, contact Member Services at 781-736-9900.