Horizon
One will be closed for Labor Day, September 6, 2010
Horizon One - Information
Your deposits are safe at Horizon One
FCU
As a result of the congressional bailout
package insurance coverage has been increased. See below:
Due to recent news stories involving bank instability problems some
members have contacted us with concerns about the safety of their credit
union deposits.
Rest assured your credit union is in good financial condition and your
deposits are federally insured through the NCUSIF (National Credit Union
Share Insurance Fund) and not one dollar has ever been lost by a member
who is insured with them.
You may wonder what your insurance coverage is and the following is
a brief example of how your deposits can be insured for $250,000 or
more depending on how your accounts are set up:
If you are an individual
and all accounts are in your name only your
account totals are insured to $250,000 total. EXCLUDING Individual
Retirement
Accounts. IRAs would be insured for an ADDITIONAL $250,000.
A
family of two could insure their
accounts in the following way:
Husband individually $250,000
Wife individually
$250,000
Joint Tenancy (both) $500,000
Revocable Trust
(husband trustee for wife) $250,000
Revocable Trust
(wife trustee for husband) $250,000
Two people could be covered for up to $1.5 million
Due to recent news stories involving bank instability problems some
members have contacted us with concerns about the safety of their credit
union deposits.
