Your money is safe and secure at NASA Federal
Recently, there has been a lot of information in the news about the stress on particular financial institutions, the concerns of depositors for the safety of their deposits, and the consumers’ ability to get the loans they need. Rest assured that NASA Federal continues to be a financially strong and a safe place for your savings and borrowing needs.
NASA Federal is very well capitalized with sufficient reserves to meet any foreseeable downturns. We have strong risk management practices and have received our Federal Regulator’s highest rating for safety and soundness. Additionally, NASA Federal has not and will not participate in sub-prime mortgage lending practices.
All NASA Federal member deposits are federally insured by the National Credit Union Administration (NCUA) to at least $250,000 – with higher coverage available with a combination of individual, joint, trust, payable-on-death and other types of accounts. There is also separate coverage up to $250,000 for IRA funds. The NCUSIF is backed by the full faith and credit of the U.S. Government and provides coverage in the same amount as provided by the FDIC to federally insured banks.
NASA Federal is in its 62nd year of helping members achieve a brighter financial future. While large financial institutions are limiting their lending and other services due to their turmoil, credit unions in general and ours in particular, continue to make loans and serve members as always. It’s worth remembering that credit unions were born in times of financial turmoil during the Depression, and have therefore mastered the balance between growth and safety – serving the little guy while meeting the demands of their sophisticated members. We see nothing changing this philosophy or our ability to be there for our members when they need us the most.
NASA Federal’s first priority has and always will be to serve our members. You can be certain that your money is safe and secure at NASA Federal Credit Union.