Aggieland Credit Union
NCUA Warns Consumers about “National Credit Union” Phishing Scam
Website Uses Logo Similar to NCUA’s, Mimics Website Design and Language
Consumers have received emails from the National Credit Union website, which apparently originates in Australia and claims to offer services in the United States, Europe and the Commonwealth of Independent States. This website is not affiliated in any way with the National Credit Union Administration, a federal agency, and the emails are not from NCUA.
NOTICE - Effective March 31, 2015 ACU will no longer offer Excess Share Insurance (ESI)
This private insurance insures the next $250,000 in deposits per member over and above the basic $250,000 insured by the National Credit Union Share Insurance Fund (NCUSIF). Please note that IRA accounts have a separate and additional $250,000 limit by themselves that are covered under the NCUSIF. We are discontinuing ESI coverage because we have experienced difficulty in explaining the value in relation to the expense since the insurance is private and not federal. You can rest assured that ACU, ESI and NCUSIF are all financially sound organizations.
Over the next few months our staff is here to help you restructure your account, if necessary, to gain more federal insurance from the NCUSIF. The NCUA provides a very helpful share insurance coverage estimator and FAQ page.
There will be no penalties assessed for the withdrawal or transfer of any funds should you make any changes as a result of our decision to eliminate Excess Share Insurance (ESI) coverage.
Please feel free to contact your local Branch Manager to discuss any changes you would like to make to your account.