Banks operate to generate profits for their stockholders or private owners. As a nonprofit credit union, the only shareholders Liberty Bay answers to are you, our members. Our operations are driven by a dedication to improving our members’ lives, one day at a time. Our profits are invested back into the credit union in the form of better rates and best-in-class digital banking technologies, and our employees are dedicated to creating the best possible member experience every time.
Every Dollar Covered, Because Every Dollar Counts.
Your Savings, 100% Protected — Always
At Liberty Bay we put our members first, and that means protecting every dollar they trust us with. That’s why your deposits are fully insured through the combined power of NCUA and MSIC — so whether you have no matter your balance, your money is valuable, no matter your balance, your money is valuable, and it’s protected from the very first dollar.
Why It Matters
- NCUA Coverage: The National Credit Union Administration insures deposits up to $250,000.
- MSIC Backstop: The Massachusetts Shared Insurance Corporation steps in to insure any amount beyond that, with no cap.
- Not all things are Equal: Many large national banks only offer standard FDIC coverage up to $250,000. Once your balance goes beyond that covered amount, those funds are no longer insured. At Liberty Bay, your entire balance is protected, no matter how high, giving you more security – because each and every dollar matters.
- Peace of Mind, Built In: You don’t need to do anything special — from day one, your funds are fully covered.
Credit unions have a strong record of protecting members’ deposits. At Liberty Bay, we build on that foundation with no-cost, automatic excess coverage — giving you confidence, peace, and stability.
Key Questions
| Question | Answer |
| Is Liberty Bay insured by the FDIC? | No — we’re not a bank. But every deposit here is insured through NCUA (federal) and MSIC (state) for 100% protection. |
| Do I need to title my accounts differently if I exceed $250,000? | No. Because of the NCUA + MSIC partnership, all funds are protected regardless of amounts or account types. |
| Does this cost me anything extra? | Not a penny. This robust coverage is included — always. |
| Which accounts are covered? | Checking, savings, money markets, CDs/time deposits — all qualify. (Securities and non-deposit investments are excluded.) |
How It Works (Examples)
Example A
You hold $200,000 split across checking, savings, and a CD.
→ The entire balance is fully insured under NCUA.
Example B
You hold $500,000 across various deposit accounts.
→ First $250,000 is insured via NCUA; the remaining $250,000 is protected through MSIC — so everything is covered.
For a full breakdown of account types, coverage limits, and joint/retirement/trust accounts — we’re here to help explain.
Freedom From Worry, Built Into Our Promise
At Liberty Bay, all you should worry about is your financial goals — not whether your money is safe. With full, no-limit deposit protection, we give you the freedom to plan confidently, build boldly, and stay anchored in trust.
We believe in creating a strong, supportive community within our membership, but that belief doesn’t stop at the door. We’re committed to helping the communities that we operate in thrive. We proudly contribute to numerous local charitable organizations through the volunteer efforts of our board of directors, our employee-run Community Matters volunteer program and Liberty Bay’s charitable gifting program.
Explore Our Annual Report
Putting other people first is a reflection of who we are
Liberty Bay is a cooperative financial institution whose existence is to serve our membership, putting people over profits. Throughout the year, we always keep our members’ financial wellness our priority while maintaining the strength of the Credit Union.
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