April 1, 2009

Decatur Earthmover Credit Union’s (DECU) Board of Directors has elected to convert the credit union’s primary deposit insurance coverage from American Share Insurance (ASI) to federal insurance offered through the National Credit Union Share Insurance Fund (NCUSIF).

Effective March 18, 2009 your savings became primarily insured by the NCUSIF, backed by the full faith and credit of the federal government.  This conversion date supersedes the originally planned conversion date of February 1, 2009.  Your savings, up to $250,000 per member for aggregate IRA accounts and temporarily (at least through December 31, 2009) up to $250,000 per member for non-IRA accounts, will be protected by the federal deposit insurance.  In addition, the credit union will continue to offer supplemental deposit insurance up to $250,000 through the Excess Share Insurance Corporation for account relationships that exceed the federal insurance limit.  Therefore, your DECU deposit accounts will be insured up to $500,000.

The Board of Directors and management of DECU feel that this is the best option for our members, given the uncertain times in today's economy.  We are very excited about the change which provides the ability to offer both federal insurance and excess share insurance to our membership. 

If you have any questions regarding this change in deposit insurance coverage please feel free to contact Barry Schmidt at 217-872-8160 or Kim Carlson at 217-872-8150.   

As always, we thank you for your membership and look forward to being of continuing service to you, your family and friends. 

Thank you

DECU Board of Directors