§ 16611 Deposit Security Requirements

• •Banks and credit unions must keep extra money (10% more) as safety money with the government.
• •This safety money is like a backup to protect your deposits if the bank has problems.
• •The government picks what kinds of safe things (like bonds) the bank can use for this backup money.

You put $100 in your local credit union.

The credit union must keep at least $110 in safe backup money with the government to protect your $100.