1. Are my deposits insured?

Yes. Your deposits are federally insured by the NCUSIF - the National Credit Union Share Insurance Fund - up to at least $250,000. NCUSIF insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC). The NCUSIF is managed by NCUA under the direction of the three-person NCUA Board appointed by the President of the United States.

You can structure ownership of your deposit accounts in such a way to receive coverage for an aggregate amount greater than $250,000. Your retirement accounts (IRA's) are covered up to $250,000.

If you want to find out how much coverage you currently have, click here. Just enter basic information about your accounts and account ownership, and it will tell you how much is covered. Or call 1-800-755-1030 between 7 a.m. and 5 p.m. central time and press "1" for share insurance questions.

It's important to note that money market share accounts and money market funds are not the same.

A money market share account at your credit union is insured to at least $250,000 by the NCUA. Money market funds are a type of mutual fund, and they are not insured. To learn more, click here.

2. Is AMPLIFY safe and sound?

Yes. We've been part of Austin for more than 40 years. We're well-managed, as evidenced by our consistently high audit reports, and our balance sheet is sound. You can see our balance sheet for yourself in any of our locations, or just click here.

In the wake of recent high-profile bank failures, the public is becoming more aware of the advantages offered by credit unions. Click here to learn more.

3. What makes you safe and sound?

• We have not made or invested in sub-prime mortgage loans.
• We're owned by - and answer to - you, our members. Not outside investors and stockholders.
• We’re well-capitalized. As defined by the NCUA, (National Credit Union Administration) a well-capitalized credit union (sometimes called members’ equity or reserves) has at least 7% net worth Amplify’s capital ratio is 8.2%. You can view our financials at goamplify.com.
• Your savings are safe at AMPLIFY. Just as the FDIC does for banks, the National Credit Union Share Insurance Fund (NCUSIF) insures members’ savings up to at least $250,000—with more coverage available if you have a combination of individual, joint, trust, payable-on-death, and other types of accounts. For more information on federal share insurance, see the NCUA brochure “Your Insured Funds”.

4. What should I do now?

• Stay calm. When it comes to finances, panic is expensive. You may be making some important decisions about what to do with your funds. That requires a clear head and a good long-term perspective.
• Know where you stand. If it's been awhile since you've reviewed your finances, this is a good time. Look at your accounts, investments, and insurance and make sure you know what's happening with all of them. Talk to your financial advisor. If you don't have a financial advisor, you can always talk to Dan Dillard with Amplify Financial.
• Be informed. The better information you have, the better decisions you're likely to make. There are hundreds of great resources for consumer information online. If you need a recommendation, Yahoo Finance is a good place to start. Take some time to get educated, and think about your financial goals and priorities. You may need to make a few changes - but this won't last forever.
• Keep things in perspective. History shows that for every big drop in the market, or every financial crisis, there's a recovery - often sooner than later. After 2001's market drop, the S&P 500 was up 19% in just six months.