Our Members Deposited Funds are Fully Insured
March 13, 2023
Our Members Deposited Funds are Fully Insured.
To our members who have questions or concerns about their Worcester Credit Union share accounts due to the recent failure of Silicon Valley Bank in California, we want to remind you that your Worcester Credit Union share accounts are fully insured.
At Worcester Credit Union your funds are insured by both the National Credit Union Administration (NCUA) and the Massachusetts Credit Union Share Insurance Corporation (MSIC).
- NCUA (National Credit Union Administration) insures all Worcester Credit Union shares and deposits up to $250,000 per account owner.
- MSIC (Massachusetts Credit Union Insurance Corporation) fully insures excess shares and deposits above the NCUA $250,000 limit.