Please know that your Credit Union is safe, sound, and secure. We understand you may be concerned about your deposits during these unsettled times. Your deposits at Maine Savings are insured by the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF was created by Congress in 1970 to insure members' deposits in federally insured credit unions. Administered by the NCUA, the Share Insurance Fund insures individual accounts up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund separately protects IRA and KEOGH retirement accounts up to $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States Government. Credit union members have never lost, even a penny, of insured savings at a federally insured credit union.
In addition to insurance, we want you to know that your credit union is extremely strong financially and has a very strong capital base.
If you have questions or concerns about the safety of your deposits, please feel free to contact our Member Service Center at 800-273-6700 or CEO at mainesavings dot com