Haris Ashley
Idaho Central Credit Union (ICCU) is a federally insured credit union. The funds deposited in ICCU accounts are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), an arm of the National Credit Union Administration (NCUA). This means that the financial resources of ICCU members are backed by the full faith and credit of the United States government.
| Characteristics | Values |
|---|---|
| Insurance Provider | TruStage, CMFG Life Insurance Company |
| Insurance Services | Medicare, Life Insurance, Auto Insurance, RV Loan Insurance |
| Insurance Coverage | Funds deposited in Idaho Central Credit Union accounts insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF) |
| Insurance Team Contact | (208) 985-7427 (TTY 711) Monday-Friday: 8:30am-5:30pm MT |
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What You'll Learn
Deposits insured up to $250,000
Deposits at the Idaho Central Credit Union are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), which is an arm of the National Credit Union Administration (NCUA). This insurance cover applies to all deposit accounts. The NCUA is a US government-backed agency, so your money is secure and insured with the full faith and credit of the United States government.
The NCUA is an independent agency of the US government, which was formed to regulate and insure credit unions, and it has been insuring credit unions and their members' deposits since 1970. The NCUSIF is the arm of the NCUA that provides the insurance cover, and it is a federally funded insurance fund. This fund was established by Congress in 1970 and is backed by the full faith and credit of the US government.
The NCUA provides insurance cover for credit unions and their members' deposits, with a maximum insured amount of $250,000 per individual depositor. This means that if you have multiple accounts with the Idaho Central Credit Union, the total of all your deposits across all accounts is insured up to $250,000. This includes any interest that you have earned on your deposits.
The NCUA insurance cover is automatic, so there is no need to apply for it or pay extra for it. It is provided as a standard feature of your membership with the Idaho Central Credit Union. This insurance cover is also adjustable, so you can use the insurance estimator on the ICCU website to help you understand and maximise your insurance coverage.
The Idaho Central Credit Union takes the security of its members' financial resources very seriously, and this insurance cover demonstrates its commitment to protecting its members' deposits and helping them achieve financial success.
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Idaho Central Credit Union
The funds deposited in ICCU accounts are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), an arm of the National Credit Union Administration (NCUA). This insurance protects the financial resources of its members, backed by the full faith and credit of the United States government.
ICCU offers various financial products and services to its members, including the ICCU Premier Rewards Visa Credit Card, which provides rewards points on entertainment, travel, dining, and more. They also provide auto loans, checking accounts with benefits like phone protection, and tools for managing finances and planning for the future, such as their Financial Wellness Center.
In recent years, ICCU has expanded its presence by acquiring naming rights to several venues in Idaho and Washington. These include the Idaho Central Credit Union Arena at the University of Idaho, the Idaho Central Arena in downtown Boise, the Idaho Central Spokane Valley Performing Arts Center, and the ICCU Dome at Idaho State University.
ICCU is governed by an elected board of directors, with Brenda Worrell serving as the chief executive officer (CEO) and other executives leading finance, information technology, lending, experience, and marketing divisions.
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National Credit Union Share Insurance Fund (NCUSIF)
The National Credit Union Share Insurance Fund (NCUSIF) was established by Congress in 1970 to provide deposit insurance and protect the accounts of credit union members at federally insured institutions in the United States. The fund is administered by the National Credit Union Administration (NCUA), an independent federal financial regulator.
NCUSIF is funded entirely by participating credit unions, with contributed capital from federal and state-chartered credit unions amounting to approximately $10 billion. The Federal Credit Union Act requires the NCUA Board to maintain a target equity ratio of at least 1.20% and no more than 1.50% of total insured deposits. The fund is primarily invested in US treasury securities, with a portion of the earnings funding the NCUA's operations.
The NCUSIF insures individual accounts up to $250,000, and a member's interest in all joint accounts is also insured up to $250,000. Additionally, the fund separately protects members' IRA and KEOGH retirement accounts up to $250,000 and provides extra coverage for trust accounts. This coverage is similar to that provided by the Federal Deposit Insurance Corporation.
The NCUSIF has the backing of the full faith and credit of the United States government, ensuring that credit union members do not lose their insured savings. As of December 2016, the fund insured an estimated $1 trillion in member shares across more than 5,800 federally insured credit unions.
To help members understand their insurance coverage, the NCUA provides resources such as the Share Insurance Estimator, brochures, and YouTube videos. These tools allow members to calculate their insured amounts and learn about the protection provided by the NCUSIF.
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TruStage car insurance
TruStage offers auto and home insurance through credit unions. The company works with leading insurance carriers to bring competitive auto and home insurance savings to credit union members. TruStage auto insurance provides customizable coverage, reliable support, cost savings, and additional features. For example, depending on your policy, you could qualify for discounts for safe drivers and multi-policy holders, and also enjoy access to features like accident forgiveness or car replacement.
To get a quote, you can enter your date of birth and ZIP code on the TruStage website. An agent will then ask you some questions and walk you through your options. It's a good idea to have a copy of your current insurance policy to compare coverage and features.
TruStage has received mixed reviews online. One user on Reddit reported that they received an auto insurance quote through TruStage that was the same price as going directly through the insurer's website. Another user described a negative experience with an agent who they believed misled them into enrolling in a policy. However, other users have commented that TruStage likely offers high-rated insurance companies.
It is important to note that Idaho Central Credit Union (ICCU) is federally insured. The funds deposited in your Idaho Central Credit Union deposit accounts are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), an arm of the National Credit Union Administration (NCUA). This means your financial resources are backed by the full faith and credit of the United States government.
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CMFG Life Insurance Company
The company's international locations include the Dominican Republic, Jamaica, Puerto Rico, and Trinidad and Tobago. They sell a variety of insurance and investment products designed for credit unions and their members, including commercial and personal services.
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Frequently asked questions
Yes, ICCU is federally insured. The funds deposited in your Idaho Central Credit Union deposit accounts are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), an arm of the National Credit Union Administration (NCUA).
This means your financial resources are backed by the full faith and credit of the United States government — your money is secure with ICCU.
ICCU accounts are insured for up to $250,000.
