Member Deposits 100% FULLY Insured at AllCom! 

During these difficult economic times, it's important for our members to understand that every dollar you have on deposit with AllCom Credit Union is FULLY insured.

Credit Unions enjoy the safety and security of federal deposit insurance just like banks do; the only difference is the agency that provides it.  Consumers may be more familiar with the letters FDIC than they are with NCUA, but the National Credit Union Administration works in an identical fashion.  Seeing the NCUA logo at AllCom Credit Union means that your deposits are protected up to the maximum allowed by law, which has recently increased to at least $250,000 until December of 2009, with the signing of the economic stabilization legislation.

A number of members have deposits that exceed what is covered by NCUA insurance.   We have GREAT news for those members;  Massachusetts state-chartered Credit Unions like AllCom are different from some other financial institutions. 

Massachusetts State Law requires and mandates that every dollar on deposit at state-chartered Credit Unions be fully insured.  The Massachusetts Share Insurance Corporation (MSIC) provides our Credit Union members with additional, excess deposit insurance of up to $600,000 for individual accounts and up to an incredible $1.2 million on joint accounts.

Your money is safe with AllCom Credit Union: of that you can be sure.  MSIC provides our members with the added protection of excess deposit insurance at no cost to the member... a benefit that adds tremendous value to your membership with AllCom.

We have provided a link to a complete resource page, which includes links to both the NCUA and MSIC web sites:

Click Here Please

This page will provide you with much more additional information. 

As always, please feel free to contact AllCom directly at 508.754.9980 if you would like to speak with a member of our staff about the safety of your deposits.  We will gladly go over your accounts and answer any questions you may have. 

If you are considering moving funds from another institution and consolidating them at AllCom, we will assist you in every way we can.  For over 86 years, we've been helping our members with all of their financial needs.