Field of Membership
FIELD OF MEMBERSHIP
Section 5 of the APS Federal Credit Union Charter #838 was amended and approved on July 13, 2005 by the NCUA and reads as follows:
The Field of Membership shall be limited to those having the following common bond:
1 All employees of Allegheny Energy and its wholly-owned subsidiaries.
2Unremarried spouses of persons who died while within the field of membership of this credit union; employees of this credit union; persons retired as pensioners or annuitants of the above employment; members of their immediate families; and organizations of such persons.
All funds in a "noninterest-bearing transaction account" are insured in full by the National Credit Union Administration through December 31,2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to members under the NCUA's general share insurance rules. The term "noninterest-bearing transaction account" includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend. It does not include any transaction account that may earn interest or dividends, a negotiable order of withdrawal ("NOW") account, money-market deposit account, and Interest on Lawyers Trust Account ("IOLTA"), even if share drafts maybe drawn on the account.