Posts Tagged 'deposit'

Christmas Club $250 deposit winner

Christmas Club winner

Congratulations to Nicole Fausz of Jackson – she wins the $250 deposit into her Christmas Club.

Nicole won by opening up a club account in February and making automatic deposits into it with her paycheck.

“It’s an easy way for me to save for my two kids’ Christmas,” she told me.

Way to go, Nicole!


WaMu sinks, customers still swim: so would you

Over at the Ask Metafilter, someone wondered if they should pull their money out of Washington Mutual Bank (often called “WaMu”) – you know, to be on the safe side.

The overwhelming answer? No.

Just like we mentioned a few weeks ago, when you put your money into a federally-insured financial institution, your deposits are covered up to $100,000. It’s the same for WaMu (they’re covered by FDIC insurance) as it is for American 1 (we’re covered by the NCUA).

Lots of weird stuff happening with Merrill Lynch and AIG, but fear not for American 1: we’re doing really well, and we don’t plan on going anywhere.


UPDATE: yesterday Rep. Maxine Waters, D-Calif., told NAFCU’s Congressional Caucus that credit unions are “the only sector of the financial industry that is not in dire straits right now,” thanks to CUs steering clear of sub-prime mortgages. “I know you’ll be part of the solution,” she told the credit union officials.


American 1 Federal Credit Union