The National Credit Union Share Insurance Fund (NCUSIF) is the federal fund created by Congress in 1970 to insure member’s deposits in credit unions up to the $250,000 federal limit. Administered by the National Credit Union Administration (NCUA), the NCUSIF is backed by the “full faith and credit” of the U.S. Government.
How the Fund is financed
The NCUSIF maintains at or near 1.30% of federally insured credit union deposits. By law, federally insured credit unions maintain 1% of their deposits in the NCUSIF and the NCUA Board can levy a premium if necessary. Credit unions voluntarily capitalized the Fund in 1985 by depositing 1% of their deposits into the Fund. Since then, the NCUA Board has charged only one premium, when three large New England credit unions failed in 1992 substantially increasing insurance losses. No federal tax dollars have ever been placed in the credit union financial Fund, and no member has ever lost money insured by the NCUSIF.
Life Savings Insurance/Loan Protection Insurance
Life Savings Insurance up to $1,000
As an added benefit, and at no additional cost to the member, if you joined prior to January 1, 2010, Nutmeg State FCU insures both Regular Share Accounts and Money Market Accounts. The insured is the member whose name appears first on the account. Joint account holders are not insured. For trust accounts, insurance is on the first named beneficiary of the trust. All members who qualify for added benefit are included in this coverage. Qualified applicants include those under 70 on the date you make your first deposit.
Notary Public Service
Notary Public Service is offered at no cost to all of our members. You may take advantage of this service by visiting most of our branches. A Notary may:
- attest to the signature and execution of documents
- authenticate the execution of documents
- authenticate the content of documents and facts recited
- administer oaths and declarations
- act as power of attorney
- verify corporate records and contracts
- verify (via translator) translations of documents into English and from English
- administer copies of Notarized documents
- oversee international domain name transfers
Click here for a complete list of our branch hours and locations.
Money orders provide a safe alternative to sending cash through the mail and they are as good as cash when you do not have time to let a check clear. Money Orders can be purchased at any Credit Union branch.
Nutmeg State FCU offers wire transfers to its members to and from other financial institutions. The cost for this service is $20 per wire in the United States. (Costs vary on international transfers). You must contact the recipient financial institution for wiring instructions. Availability of funds depends on the financial institution transferring the funds. Your signature is required prior to processing the transfer and additional information may be required to verify identity. Generally, members must transfer funds by 2 p.m. (within the United States) and 12 p.m. (outside the United States). There is a $10.00 fee for incoming transfers, and no minimum dollar amount required for a transfer. Funds are to be wired to: EasCorp Federal Credit Union 35 Corporate Drive, Suite 300 Burlington, MA 01803 ABA# 211391773 Additional information you will need to provide is as follows: Further Credit to: Nutmeg State FCU Account # 211977362 Final Credit to: ”Your Name” and “Your Account# at NSFCU” For more information about any of these services, please call 860.513.5000 (local) or 1.800.526.6933 (nationwide). Or click here to send a General E-Mail.