LGFCU is federally insured by the National Credit Union Administration (NCUA), a federal agency that administers the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF, like the FDIC's Deposit Insurance Fund, is a federal deposit insurance fund backed by the full faith and credit of the U.S. Government.
The NCUA protects members against losses should a federally-insured credit union fail. Not one penny of insured savings has ever been lost by a member of a federally-insured credit union. No credit union may terminate its federal insurance without first notifying its members.
LGFCU uses several methods to make certain member deposits remain secure.
If you have several credit union accounts and would like to know how to structure them for maximum insurance coverage, Visit the NCUA website and use the Share Insurance Estimator or download the brochure Your Insured Funds.
You may obtain additional separate coverage on multiple accounts, but only if you have different ownership interests or rights in different types of accounts, and you complete the appropriate forms.