Caltech Employees Federal Credit Union
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Effective immediately, your savings account at CEFCU is now federally insured to at least $250,000 and continues to be backed by the full faith and credit of the United States Government!
The Emergency Economic Stabilization Act of 2008 increased the insurance coverage until December 31, 2009. The same rules continue to apply that allow you to increase your insured amount well above $250,000. Individual accounts, joint accounts, and trust/pay-on-death beneficiary accounts are all eligible for separate multiples of $250,000 in coverage. In addition, new rules for trust accounts or pay-on-death beneficiary accounts eliminate the concept of “qualifying” beneficiaries, allowing coverage for any beneficiary named to an account! Now, beneficiaries may include any natural person as well as charitable organizations.
CEFCU remains rock solid and stronger than ever! Our Credit Union has not participated in any of the toxic and sub-prime based loans and securities that are the source of so much of the turmoil in the financial services markets. You can rest assured your Credit Union is safe and secure!!
For questions about your CEFCU account, please contact a CEFCU representative at any of our offices.
