Money safe
You may have heard the phrase that your funds are “federally insured,” but what does it actually mean? While banks are insured by the Federal Deposit Insurance Corporation (FDIC), credit unions like American Airlines Federal Credit Union are federally insured by the National Credit Union Share Insurance Fund (NCUSIF). That means these funds are backed by the U.S. federal government, ensuring your money remains safe and available in the unlikely event of financial system failure.

Put simply: The balance of your account will be covered in total up to the maximum insurance limit. Accounts with more than $250,000 with joint owners or multiple beneficiaries may be eligible for additional coverage.

Interested in staying up to date on how the Credit Union is working to keep your money safe? Visit our Safety and Soundness blog online or the National Credit Union Association’s Share Insurance Estimator to find out more.
Scott Steinberg is an award-winning professional speaker and management professional. He is the bestselling author of Think Like a Futurist; Make Change for You; and Fast >> Forward: How to Turbo-charge Business, Sales, and Career Growth.