NOTICE OF EXPIRATION OF THE TEMPORARY NCUA SHARE INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS
By operation of federal law, beginning January 1, 2013, funds deposited in a “noninterest-bearing transaction account” will no longer receive unlimited share insurance coverage by the National Credit Union Association (NCUA). Beginning January 1, 2013, all of our members’ accounts at AFL-CIO Employees Federal Credit Union, including all savings, checking, and money market accounts, will be insured by the NCUA up to the standard maximum share insurance amount ($250,000), for each share insurance ownership category. Individual Retirement Accounts (IRAs) continue to be insured separately.