Indianapolis’ Newspaper Federal Credit Union Conservatorship Frequently Asked Questions

Yes, member accounts at Indianapolis’ Newspaper Federal Credit Union remain safe and fully insured up to the maximums established in federal law.

Administered by the National Credit Union Administration, the National Credit Union Share Insurance Fund insures member accounts owned by an individual for up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund also separately protects IRA and KEOGH retirement accounts up to $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States.

The NCUA’s online Share Insurance Estimator allows credit union members to estimate their share insurance coverage. Once you provide the required data, the Share Insurance Estimator produces a report with a detailed explanation of insurance coverage.

Members with additional questions about their insurance coverage may contact the National Credit Union Administration’s Consumer Assistance Center toll free at 800.755.1030. The center answers calls Monday through Friday between 8 a.m. and 5 p.m. Eastern.

You can visit the Share Insurance Coverage page of the NCUA’s MyCreditUnion.gov consumer website at any time for more information about insurance coverage.

The NCUA placed Indianapolis’ Newspaper Federal Credit Union into conservatorship on January 14, 2021. In a conservatorship, the NCUA’s priority is to protect the assets of the members of Indianapolis’ Newspaper Federal Credit Union while working to maintain safe-and-sound credit union operations.

The NCUA is an independent agency of the federal government that, among other things, operates and manages the Share Insurance Fund, which insures accounts at all federally insured credit unions, including Indianapolis’ Newspaper Federal Credit Union.

A conservatorship means the NCUA has assumed control of Indianapolis’ Newspaper Federal Credit Union to ensure its financial stability and safe-and-sound operation. In a conservatorship, the NCUA works to address issues related to a credit union’s operations and financial condition while maintaining member services.

Yes, member services at Indianapolis’ Newspaper Federal Credit Union will continue uninterrupted. You can contact Indianapolis’ Newspaper Federal Credit Union by telephone at 317.870.1002 or in person at the credit union’s office located at 126 S. Meridian Street, Indianapolis, Indiana.

Indianapolis’ Newspaper Federal Credit Union’s main office is open Tuesday through Thursday from 9 a.m. to 3:30 p.m., and from 9 a.m. to 3 p.m. on Friday.

Through a conservatorship, the NCUA seeks to resolve operating issues at the credit union with the goal of protecting member assets and seeking a resolution to identified problems. The NCUA has made no decisions about the long-term future of the credit union; however, continued service to members is a priority.

In working to resolve issues affecting Indianapolis’ Newspaper Federal Credit Union, the top priority is to protect the interests of the credit union’s members, and the NCUA has no set timeframe for completing this process.

Indianapolis’ Newspaper Federal Credit Union serves 1,155 members, according to its most recent Call Report.

The credit union has assets of $6,604,355, according to its most recent Call Report.

Indianapolis’ Newspaper Federal Credit Union serves various select employee groups in the greater Indianapolis area. The employee groups the credit union serves include:

• Employees of Indianapolis Newspapers, Inc., who work in or are paid from Indianapolis, Indiana;
• Employees of Vance Uniformed Protection Services who work in Indianapolis, Indiana;
• Employees of His and Her Beauty and Barber Salon who work in Indianapolis, Indiana;
• Employees of Securpros who work in Indianapolis, Indiana;
• Employees of Mark S. Zuckerberg, P.C. who work in Indianapolis, Indiana;
• Employees of Crown Services, Inc. who work in Indianapolis Indiana;
• Employees of BNA Painting, Inc. who work in Indianapolis, Indiana;
• Employees of AFSCME Local 3131 who work in, or are paid or supervised from Indianapolis, Indiana;
• Employees of SIMON who work in Indianapolis, Indiana; and,
• Employees of Montross Miller Law Firm, LLC who work in Indianapolis, Indiana.