§ 16614 Bonds For Deposit Security

• •Banks or credit unions can use special bonds instead of money or other securities to protect deposits.
• •These bonds must come from approved insurance companies.
• •This rule helps keep your money safe if you put it in a bank or credit union.

You put your savings in a local credit union.

The credit union uses special bonds from a big insurance company to make sure your money is safe, instead of just keeping extra cash.