Federal Protection for Your Savings. Peace of Mind - all the Time.
The insurance that is extended to every account at Community First is similar to the deposit insurance provided by the more-familiar Federal Deposit Insurance Corporation (FDIC). Share accounts in federally insured credit unions (such as Community First) are insured to at least $250,000 (per person in the case of joint accounts) - the same amount of insurance protection offered by the FDIC. Meanwhile, Individual Retirement Accounts are insured to $250,000. There are higher exceptions - in the case of trusts, for example. The NCUA Insurance booklet gives a more detailed explanation of insurance coverage. NCUA Deposit Protection.
Not one penny of insured savings has ever been lost by a Member of a federally insured credit union. In the extremely rare event of a federally insured credit union failing, the National Credit Union Share Insurance Fund (NCUSIF) will make any necessary payouts within two weeks of the time the credit union closes its doors.