Minnesota Credit Unions Create Consumer Website
Friday, March 20, 2020
Site is a one-stop shop for food, charitable, financial and state resources
St. Paul – The Minnesota Credit Union Network (MnCUN) today introduced a website that will be updated daily with resources from financial counseling to food insecurity for Minnesotans during the COVID-19 pandemic:
All Minnesota credit union deposits are federally insured by the National Credit Union Administration (NCUA) per individual up to $250,000, just as bank deposits are insured by the FDIC. Minnesota Credit Unions want to reassure consumers their money is safe.
Countless numbers of Minnesotans experiencing financial stress will be able to access resources, as well as reach out to credit unions for guidance, support and products that can assist them.
In addition to financial guidance, the MnCUN site provides links to various resources such as:
Financial Counseling – LSS:
Food Insecurity - 2nd Harvest Food Shelf Network:
Avoiding Scams - MN Attorney General:
Minnesota Credit Unions are committed to meeting the financial needs of their members and the community through this evolving situation.
The Minnesota Credit Union Network is the statewide trade association that works to ensure the success, growth and vitality of Minnesota credit unions. With nearly $24 billion in assets, Minnesota credit unions are local, trusted financial cooperatives that serve more than 1.8 million members at almost 400 branch locations around the state. As not-for-profit institutions, credit unions give back to the communities they serve. For more information, visit mncun.org.
The National Credit Union Share Insurance Fund was created by Congress in 1970 to insure members' deposits in federally insured credit unions. Administered by the NCUA, the Share Insurance Fund insures individual accounts up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund separately protects IRA and KEOGH retirement accounts up to $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States. Credit union members have never lost even a penny of insured savings at a federally insured credit union. For more information, visit https://www.ncua.gov/support-services/share-insurance-fund.