SMARTLAB by Logix

For those navigating the financial landscape in the United States, the assurance of deposit safety stands as a cornerstone of financial security. This critical assurance is largely provided by two key federal entities: the National Credit Union Administration (NCUA) and the Federal Deposit Insurance Corporation (FDIC). These entities play a pivotal role in ensuring the safety of depositors' funds, but they cater to different sectors within the financial ecosystem.

Before we delve into the specifics of NCUA and FDIC insurance, let’s address the primary question: What sets these two organizations apart in the realm of deposit insurance and how do they relate to broader financial concepts and practices? Understanding this distinction is not just about recognizing the difference in coverage. It’s about appreciating how each contributes to the stability and resilience of the financial landscape, ensuring that depositors can confidently engage with their chosen financial institutions, whether they are banks or credit unions.

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If you use an iPhone or an Android smartphone, then it's good practice to have automatic updates turned ON!  Both Apple and Google regularly release updates for their smartphone operating systems (OS) and keeping up with the latest is a prudent measure, particularly from a security perspective since many of the updates address bugs in the OS that can be exploited by bad actors. 

On Apple devices, turning on automatic updates isn’t exactly easy, as there are multiple steps across several screens that may confuse users. Fortunately, automatic updates are enabled by default so unless you’ve turned them off on purpose you should be good to go!

Here’s how you can check: 

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If you're interested in securing your financial future, you've probably encountered the term "NCUA Insurance Limit." This limit is a crucial aspect of safeguarding your hard-earned money, especially if you're a member of a federally insured credit union like Logix. In this blog post, we'll break down the NCUA Insurance Limit and provide you with the necessary information to make informed financial decisions.

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Buying a home often involves securing a mortgage, a long-term loan designed for real estate. But life changes, and so do financial needs. Enter mortgage refinancing — the process of replacing your current mortgage with a new loan featuring different terms. Homeowners commonly refinance to take advantage of lower interest rates or reduce monthly payments. Refinancing can be a strategic financial move, but you need to know its ins and outs to determine if it's right for you and make an informed decision about mortgage refinancing.

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