Most banks are backed by the FDIC, which makes these financial institutions a "safe place" to put your money. Banks offer "safe money" financial products such as Certificates of Deposits, Savings Accounts, and Money Market Accounts.
Although they might object to be included in the bank section, credit unions offer the same safe money places as banks and the covered account values are also federally insured. Credit Unions are owned by their members - the people in the community that use their services. They are non-profit entities (a tax status that banks do not have) with a history dating back almost a hundred years.
The National Credit Union Association (NCUA) charters and supervises federal chartered credit unions, and savers in all federal and most state chartered credit unions are insured by National Credit Union Share Insurance Fund (NCUSIF), a federal fund backed by the full faith and credit of the United States government. Credit Unions are a safe money place.
If you would like to learn more about credit unions visit the following web sites:
WHO IS IN CHARGE OF THE BANKS?
If you would like to learn more about the regulatory world surrounding your bank visit the following web sites:
More Banks and Credit Unions Topics
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Safe Money Places
11611 N. Meridian St. Suite #110
Carmel, IN 46032
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Raymond J. Ohlson, CLU, CRC, founder of The Ohlson Group, Inc. is a licensed insurance agent in all states with the exception of New York. If you request information, regarding a product or service, you may be contacted by a life insurance agent licensed in your state.
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