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Our Promise of Strength and Stability!
I’m proud to say that Firstmark Credit Union does not engage in the risky lending practices that have troubled some financial institutions. Our capital position is very strong, and our members' deposits are insured up to legal limits by the NCUA and backed by the full faith and credit of the United States Government.
Members have trusted this credit union for 76 years and have been rewarded for their trust. They can count on us for many years to come!
Leon Ewing
President and CEO
Firstmark Credit Union
Dan Mica, President/CEO, Credit Union National Association (CUNA) talks about federal insurance for credit union deposits.
Click here to watch the video
A Statement on Credit Unions in Texas from Dick Ensweiler, President and CEO, Texas Credit Union League.
(Dallas September 25, 2008) It's important for credit union members and the public to know why they can count on the safety and soundness of their credit union. Credit Unions, which function as not-for-profit, non market-based financial cooperatives, have remained well capitalized nationwide and are in particularly good condition in Texas, even amidst the current economic crisis. Credit unions are owned by the members and are not publicly traded on Wall Street. As such, they remain largely insulated from severe market swings. In addition, members deposits are safe and sound, secured by a federal deposit insurance fund established for credit unions specifically and that fund remains healthy.
Informational Video about NCUA Insurance
National Credit Union Administration
(NCUA)
An independent agency of the United States Government.
NCUA regulates, charters, and insures the nation's federal credit
unions. In addition, NCUA insures state chartered credit unions,
like Firstmark Credit Union, which desire and qualify for federal
insurance.
The shares in Firstmark Credit Union are insured
by the National Credit Union Share Insurance Fund (NCUSIF) or the
Fund, an arm of NCUA. Established by Congress in 1970 to insure
member share accounts at federally insured credit unions, the Fund
is managed by NCUA under the direction of the three-person NCUA
Board.
Your share insurance is similar to deposit insurance
provided by the Federal Deposit Insurance Corporation (FDIC). Share
accounts in federally insured credit unions are insured up to $250,000,
an amount equal to the insurance protection offered by the FDIC.
Click here to read their Online
Booklet.
National Credit Union Share
Insurance Fund
The National Credit Union Share Insurance Fund
(NCUSIF) is the federal fund created by Congress in 1970 to insure
member's deposits in credit unions up to the $250,000 federal limit.
Administered by the National Credit Union Administration, the NCUSIF
is backed by the "full faith and credit" of the U.S. Government. Click here to learn more.
You can use the new Electronic Share Insurance Estimator at the NCUA web site in order to give you an idea as to the amount of coverage your accounts at the Credit Union carry. Based on the type of deposit account(s) you have, this estimator will determine how much those same accounts are insured for.
NCUA Electronic Share Insurance Estimator
Excess Share Insurance (ESI)
Firstmark Credit Union offers members an additional $250,000 in deposit insurance coverage through participation in the Excess Share Insurance program. This coverage provides additional security for members who entrust the credit union with higher deposit balances.
Learn how excess share insurance helps insure your savings.
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