In light of recent news reports of isolated bank failures, we understand the concern some members may have about the safety of their accounts with CTFCU. We want to reassure our members that CTFCU currently has a well-capitalized net worth classification recognized by the National Credit Union Administration (NCUA). This designation from the NCUA specifies that we are well above the capital limit requirements of the NCUA. The NCUA Federally insures your accounts for up to $250,000. Even in the improbable event that CTFCU experiences financial difficulties, you can rest assured knowing your funds are protected here.
As a Federally insured credit union, we are committed to providing a safe and secure place for our members to house their deposits. We take our responsibility to safeguard your money very seriously and have instituted robust risk management and compliance programs to ensure we exceed all regulatory requirements.
We encourage you to visit our disclosures page for more information about our insurance coverage and other important notices. If you have any questions or concerns, please don’t hesitate to contact us at 1-800-622-5305.