Are Accounts Safe and Secure?

 In
Yes!  Member share accounts in the Federal Credit Union are insured up to $250,000 per account by the National Credit Union Administration. Savings have additional protection through a number of provisions in the Federal Credit Union Act and standard bylaws. Some of these are:
  • The Treasurer must be bonded for faithful performance of his/her duties, and all persons handling or having custody of credit union funds must also be bonded.
  • The affairs of the Credit Union and the records of the Treasurer are audited by the Supervisory Committee.
  • The Act and bylaws provide for the setting aside of a reserve for uncollectible loans.
  • The surplus funds of the Credit Union may be invested only in specified investments.
  • All federal credit unions are supervised and are periodically examined by the National Credit Union Administration.
What are the advantages of joining?
How is the OPPFFCU Structured?