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Not one penny of insured savings has ever been lost by a member of a federally insured credit union. The federal insurance fund has several programs to help insured credit unions which may be experiencing problems. Liquidations or failures are a last resort. If a federally insured credit union does fail, however, the NCUSIF will make any necessary payouts to the credit union''''s members. These payouts are usually done within 3 days from the time the credit union closes its doors.
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Has anyone ever lost money from a federally insured credit union that closed?
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