Membership in MSIC
No Need to Diversify, Be Unique
By joining MSIC, you provide your members with additional protection they can’t find with federally insured banks. This helps you to establish your credit union as the members’ primary financial institution, without the need to diversify their funds for deposit insurance protection. This provides both convenience and piece of mind for your members, while providing your marketing staff an edge in competing for deposits.
Excess Deposit Insurance provides two unique benefits to your member that they can’t find with the national bank or the internet outlet:
No Need to Diversify
A home sale, an inheritance, the sale of a business – any of these events could quickly throw a member’s balance well above the federal $250,000 limit. Without excess deposit coverage, a member may need to spread this money at different financial institutions to ensure protection of these important funds. Excess coverage allows you to offer the convenience of one account, one statement with safety. In today’s complicated world, convenience is a necessity.
This product isn’t available at national banks or internet outlets. The protection of Excess Share and Deposit Insurance sets your credit union apart from other financial institutions