Your Share Deposits are Safe at TruGrocer!

With much attention being placed on the safety and soundness of financial institutions over the past few months, please be assured that your funds at TruGrocer Federal Credit Union are secure.

TruGrocer is considered “very well-capitalized” by the National Credit Union Administration (NCUA), an agency of the federal government, with a Net Worth Ratio (NWR) of over 20%.  To be considered very well-capitalized, a credit union must have a NWR that exceeds 9%.  A “well-capitalized” credit union must have a NWR that exceeds 7% and an “adequately capitalized” credit union has a NWR between 6% and 7%.  As you can see, our NWR ratio far exceeds regulatory requirements for safety and soundness.

TruGrocer always has and will continue to adhere to safe, sound and conservative lending practices.  We have not participated in sub-prime real estate lending and will continue to lend responsibly.

Standard accounts are insured to at least $100,000 per member by the NCUA.  As another service to our members, your Credit Union provides up to an additional $250,000 of savings protection, per member, through Excess Share Insurance Corporation (ESI).  Individual Retirement Accounts (IRA’s) are insured separately and have up to $500,000 in share insurance per member ($250,000 by NCUA and $250,000 through ESI).  A single member may have up to a total of $1,200,000 in share savings protection through their individual share account, their joint share accounts and their IRA.  ESI is a property and casualty insurance company that operates in a safe and sound manner with a strong financial position.  You can find more information about ESI by going to their website at www.excessshare.com.