9/11/2023 0 Comments Cornerstone financial credit union![]() In other words, your credit union deposits are more secure than ever. Low minimum deposits, from just 1,000, so you can get started right away. Give us the opportunity to match your investment to that special event in your life home purchase, wedding, education, or retirement. The NCUA, which regulates all credit unions, believes that this capitalization makes the credit union deposit insurance fund stronger than the FDIC banking fund. For a secure investment and a highly competitive return, look into a Cornerstone Credit Union Certificate of Deposit (CD). The Union provides financial solutions such as saving and checking accounts, loans. Not only that, the 1 percent deposit is treated as an asset, whereas premiums are treated as an expense. Cornerstone Financial Credit Union operates as a financial cooperative. Cornerstone Financial Credit Union offers auto loans for cars, trucks, and SUVs at competitive rates and terms. There is no need to "strengthen" the fund. This is known as "capitalization" of the fund.Ĭapitalizing the NCUSIF in this way has eliminated the need for credit unions to strengthen the fund by paying costly premiums twice a year. ![]() Banks and savings institutions are similarly insured by the Federal Deposit Insurance Corporation (FDIC).Īlthough the NCUSIF is comparable to the FDIC in its function, it differs in one important fact: all federally insured credit unions have made a one-time deposit of 1 percent of their insured balances into the NCUSIF fund. ![]() Mailing Address: Cornerstone Financial CU PO Box 120729 Nashville, TN 37212. Did you know that your CSCCU funds are insured? The National Credit Union Administration (NCUA), a federal government agency, insures each account up to $250,000 through the National Credit Union Share Insurance Fund (NCUSIF). Contact Main Office - Hillsboro Village Nashville.
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