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IMPORTANT UPDATE
On October 3, 2008, President Bush signed into law the Economic Emergency Stabilization Act of 2008, increasing NCUA insurance coverage for qualifying credit union accounts from $100,000 to $250,000; IRA and KEOUGH accounts continue to be separately insured up to $250,000. The Helping Families Save Their Homes Act of 2009, signed into law May 20, 2009, includes a provision extending $250,000 share insurance coverage provided by the National Credit Union Share Insurance Fund through December 31, 2013. Previously, this level of coverage was set to expire December 31, 2009. The National Credit Union Administration (NCUA) insurance, is backed by the full faith and credit of the U.S. Government, just like the FDIC. http://www.ncua.gov/
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