How Safe is Your Money?
As a federally chartered credit union, CMFCU’s deposits are insured to $250,000 by the NCUA, an agency of the federal government.  CMFCU has been lending responsibly since 1939 and has steered clear of the subprime mortgages that you have recently heard so much about.  CMFCU is healthy, well-capitalized and has a strong balance sheet.  If you are not a member, and are looking for security and peace of mind, we welcome you, your friends and family to CMFCU.

On October 3, 2008, President Bush signed the Emergency Economic Stabilization Act of 2008.  This legislation (referred to in the media as the $700 billion bail-out) includes a provision that will immediately increase your Central Minnesota Federal Credit Union deposit insurance protection to $250,000 on all types of accounts until Dec. 31, 2009.

The National Credit Union Administration (NCUA), which oversees credit union deposit insurance programs, is currently revising informational literature to reflect this change in coverage.  Upon receipt of this revised information from NCUA we will make it available to our members upon request.  In the interim, please note that the expanded coverage to your Central Minnesota Federal Credit Union deposit accounts is already in effect.