BanksMost 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.
Credit UnionsAlthough 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:
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Safe Money Places and this website are operated by The Ohlson Group, Inc. Safe Money Places is a consumer website. Safe Money Places is not a licensed insurance agency and financial products cannot be purchased on this website.
Safe Money Places does not warrant anything on this website, although we strive to keep everything accurate and up-to-date. We do not provide tax, legal, accounting, or investment advice. You need to do your own homework and consult your own experts on your personal situation. This website is protected by applicable copyright laws. You may make or print one copy of any material for personal use, further copying or distributing is prohibited without prior written permission. If you have any questions or concerns, please contact us at 1-877-844-0900 OR contact us by filling out our form. 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. Privacy Policy © COPYRIGHT Safe Money Places 2005- 2022. ALL RIGHTS RESERVED.
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