Life Savings Insurance
Section 705 FCU membership includes no-cost Life Savings Insurance. Member deposits are insured, dollar for dollar, up to $3,000 depending on the member's age when deposits are made.
*The amount of your insurance is based on the insured balance of your savings on the date of your death and age on the date of each deposit that makes up the balance.*
If your balance on the date of an insured The amount of your insurance
deposit was: is equal to:
0-6 months 25% of that insured deposit
6 months through 54 years 100% of that insured deposit
55 years through 59 years 75% of that insured deposit
60 years through 64 years 50% of that insured deposit
65 years through 69 years 25% of that insured deposit
70 years and older 0%
Contact us for a copy of the Life Savings Insurance policy for your records.
