Credit Union History
Autotruck Federal Credit Union was chartered by the state of Kentucky on June 13, 1961, to serve the employees of the Ford Motor Company. Later in 1965, the Credit Union was granted its Federal Charter. What began as a small organization has now grown to a full service financial institution serving the employees, family members and retirees of several select employee groups.
Safety & Soundness
The money you have on deposit at AFCU is very safe. All money on deposit is insured up to $250,000 by the National Credit Union Administration, a U.S. Government Agency.
In addition, the Credit Union is required by law to conduct an annual audit of accounts and procedures. We are very happy to report that each year AFCU has continually made very high marks in this examination. This further demonstrates AFCU's safety and soundness.
Regulation & Supervision
Autotruck Federal Credit Union is chartered under federal law. Federally chartered credit unions are regulated by the National Credit Union Administration (NCUA), an independent agency of the U.S. Government. NCUA's three board members are nominated by the President and confirmed by the Senate.
NCUA administers the federal insurance fund, NCUSIF, which covers all federal credit unions, and most state chartered credit unions. No taxpayer money is used for regulating and overseeing federal credit unions. All activities of NCUA and the NCUSIF are funded by credit unions. |