Insurance on Shares & Deposits held by members (individuals who are members of Credit Unions) in the event of a failed Credit Union. This means that if, for any reason, a Credit Union should go into Liquidation, all members belonging to that credit union will receive protection of their unencumbered funds of up to $125,000 on Shares and $50,000 on Deposits.
The TTCUDIF was registered as a co-operative society in July 1999 with a membership of forty-two (42) credit unions.
The TTCUDIF is one of several interrelated “lines of defense” in a fairly complex system that is designed to provide limited guarantee of all members’ funds on deposits with credit unions who are members of the TTCUDIF.
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