As our nation continues to struggle in the economic downturn, SC Telco will keep you up to date on developments as it relates to you as a member. Credit Unions continue to be a safe haven in the economic storms that have seen bank failures, government bail outs and mergers.

Latest News:

WSJ: Local CUs an option for borrowers

SC Telco, Other Credit Unions Earn Their Due

Federal insurance on deposit accounts for credit unions increases to $250,000 effective immediately says NCUA
Bush highlights CU share insurance
Government's economic plan includes boost in federal share and deposit insurance
Chicago Tribune: Money is safe in a CU
Wall St. Journal: CUs are federally insured option
Forbes, CNN on CUs: 'Grab Them While You Can'
Hampel to Bloomberg TV: There are some positives

Important Information:

How your SC Telco deposit accounts are federally insured (UPDATED 10/06/2008)
Fact Sheet on Credit Union Health
Fact Sheet on SC Telco FCU
Letter to SC Telco Members from Presidet and CEO Steve Harkins

Helpful Tools From the NCUA:

The National Credit Union Administration opened a call center and posted an electronic tool kit to help members and credit unions better understand the insurance protection NCUA provides for member accounts.

"With the well-publicized turmoil in the financial markets, consumers need assurance that the federally insured funds in their credit unions are safe up to the insured limits," said NCUA Chairman Michael E. Fryzel. "NCUA is opening a call center and posting an electronic tool kit to enhance overall consumer understanding of how credit union deposits are insured."

The NCUA Insurance Call Center, operating from 8 a.m. to 6:30 p.m. (EDT) Monday through Friday, has insurance experts available to answer questions about the coverage provided by NCUA share insurance. The toll-free Insurance Call Center number is 1-800-755-1030, extension 1.

The NCUA electronic tool kit, online at
http://webapps.ncua.gov/ins/