There are so many good reasons to save. Keep them straight with Custom Savings accounts. They're perfect places to stash funds for weddings, vacations, emergencies...you name it. As long as you have a Prime Savings account, you can create as many custom savings accounts as you have reasons to save.
The short answer is YES. Here are few important things to know about how Maine credit unions are protected:
Federally insured credit unions offer a safe place for credit union members to save money. These deposits are protected by the National Credit Union Share Insurance Fund and insured up to at least $250,000 per individual depositor – the same as any other federally insured financial institution.
Credit union deposits in federally insured credit unions are safe and secure, and all Maine credit unions are federally insured.
Credit union members have never lost a penny of insured savings at a federally insured credit union.
All Maine credit unions are regularly examined by financial regulators to ensure proper management and maintain the safety and soundness of members’ money within the institution.
Visit www.MyCreditUnion.govfor more information about the National Credit Union Share Insurance Fund coverage for consumers. Download this informational brochure to help answer any other questions you may have.
Yes, teens age 14 and older can open checking accounts and get a debit card, as long as there is a parent or guardian also on the account. The responsible adult will need to fill out a minor addendum stating that they are responsible for losses incurred on the minor’s savings and checking accounts. We love to see our younger members learning how to be responsible and are happy to help them, anytime!
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