NCUA is an agency of the U.S. Government created by an Act of Congress as a means of protecting your savings. It is important to realize that not one dollar protected by the NCUA has ever been lost by a credit union member.
BVFCU operates under extensive and strict Federal and State Banking laws and regulations. We are closely supervised by government agencies who are responsible to assure that we constantly serve the best interests of our members.
All savings accounts are insured up to $250,000. NCUA works much like the insurance for depositors in banks; it assures that your savings are fully protected.
Information about NCUA is located on our "Hot Links" page.
Notice of Changes in Temporary NCUA Insurance Coverage for Transaction Accounts:
All funds in a noninterest-bearing transaction account are insured in full by the National Credit Union Administration through December 31, 2012.
This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to members under the NCUA’s general share insurance rules.
The term noninterest-bearing transaction account includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend. It does not include any transaction account that may earn interest or dividends, a negotiable order of withdrawal (NOW) account, money market deposit account, and Interest on Lawyers Trust Account (IOLTA), even if share drafts may be drawn on the account.
For more information about temporary NCUA insurance coverage of transaction accounts, visit www.ncua.gov.
FREE ACCIDENTAL DEATH & DISMEMBERMENT INSURANCE
Get $1,000 of protection at no cost. As a credit union member, a vital part of our organization, you are provided free insurance coverage (through CUNA Mutual Insurance Group) to protect your family's financial stability.
If you are age 18 through 69, $1,000 of accidental death and dismemberment protection is available to you at no cost. If you wish to increase your protection, this plan also offers up to $250,000 of additional coverage at affordable group rates.
If you have any questions, or wish to enroll for coverage, call Credit Union Members Services toll-free at 1-877-636-2377.
LIFE & DISABILITY INSURANCE
Credit Life and Credit Disability Insurance can help protect your family from the unexpected. The basic plans are easy to understand. In the event of your death, credit life insurance pays the balance of your loan, either the balance remaining or up to the policy maximum, whichever is less.
Credit disability insurance makes your loan payments (up to the policy maximum) if you were to become disabled by a covered sickness or accident which persists beyond the policy waiting period.
The cost for either of these insurance plans is reasonable. Rates can be quoted when you apply for your loan, and premiums can be added to your loan payments.
Every time you take out a new loan, consider your family and how important this coverage may be to them. Talk with your loan officer for more information, or e-mail us at .
Beaver Valley FCU has chosen a reputable insurance provider to protect your financial interests, CUNA Mutual Insurance Society. Today their coverage extends to credit union members in every state and in 59 other countries around the world.
DIRECT MAIL PRODUCTS
FROM CUNA MUTUAL INSURANCE SOCIETY
The relationship you have with your credit union differs from any you might have with other financial institutions. To us, you're not just a "customer" or a "client" - you're a member. Beaver Valley Federal is pleased to offer a variety of insurance products in cooperation with CUNA Mutual Insurance Society.
An important element in CUNA Mutual's "Member CONNECT Program" is the opportunity for our members to make insurance decisions in the privacy of their homes. For that reason, the policies are clearly written and easily understood.
CUNA Mutual has served credit unions and their members exclusively since 1935. CUNA protects credit unions in many ways through a variety of insurance products and now offers the credit union member personal protection. The following is a list of products that will be offered to BVFCU members from time-to-time:
- LIFE INSURANCE PRODUCTS
- HEALTH INSURANCE PRODUCTS
- ANNUITES
- AUTO AND HOMEOWNERS INSURANCE
- LONG TERM CARE
This service is offered to credit union members only. For information about these insurance products, call Credit Union Members Services, toll-free at 1-877-636-2377.
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