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Community Choice/Extended Insurance Accounts with ModernFi

SAVINGS

Simple access, powerful coverage

With an Extended Insurance Account, you can access all your accounts in one place, manage them easily through e-Banking, and enjoy a dedicated specialist to guide you through the easy setup process. And, it’s all safely insured under the NCUA.

Open an Extended Insurance Account
A business woman checks her phone to see her ModernFi balance through Community Choice

Protecting and growing your money just got easier

Community Choice Credit Union offers Extended Insurance Accounts, a unique product that conveniently offers access to millions of dollars in NCUA (National Credit Union Administration) share insurance* through credit unions in the ModernFi Network.

The Extended Insurance Account is designed to not only safeguard your funds with extended NCUA share insurance, but also to help your money grow through competitive interest rates. With this account, you can maximize your share insurance coverage while enjoying flexible access to your funds in demand deposit accounts.

Convenient, accessible, and effortless

An Extended Insurance Account provides millions of dollars in extended NCUA insurance on your deposits by distributing your balances in amounts under the $250,000 threshold to partner credit unions in the ModernFi network. By placing funds under the limit, your entire balance can be insured by the NCUA. These accounts combine to provide you with extended insurance coverage.

Get your questions answered — talk to us today!
A couple enjoys the easy benefits of an Extended Insurance Account with Community Choice Credit Union.
Extended Insurance Accounts through Community Choice Credit Union

How it works, simply and securely

Suppose you have $1 million that you want to safeguard and earn interest on. You can achieve this by depositing the full amount with Community Choice Credit Union through an Extended Insurance Account. The money is then distributed into smaller portions and placed in demand deposit accounts at various credit unions within the network.

The first $250,000 will be allocated to Community Choice Credit Union, another $250,000 to Credit Union 2, an additional $250,000 to Credit Union 3, and the remaining $250,000 to Credit Union 4. All of these credit unions are partnered with the ModernFi Network. This allocation helps ensure that each dollar is covered by NCUA share insurance, in an amount up to the maximum of $250,000 per share owner per credit union.

Initial Deposit

Deposit funds into your primary account.

Full access to business checking, savings, and treasury management - Community Choice Credit Union

Funds Sweep

Our system distributes funds across partner institutions.

Easy Access

Access all your funds through your single primary account.

Full Visibility

Track all movements and balances in real time.

Get started with one easy click!

Opening an Extended Insurance Account with Community Choice couldn’t be easier. Just click below to make an appointment with one of our financial experts today!

Schedule Appointment

Your money is worth its weight in goals

Ready to live the life you desire? A Choice Savings account makes it easier to set and accomplish your savings goals. Better yet, you have complete control over your Choice Goals within e-Banking. Separate your balances and name them to save for specific reasons.

  • Wedding
  • Nursery furniture
  • Family vacation
  • House down payment
Open a Choice Savings account

Hear from happy members

  • “Positive experience. It helps to work directly with a team member for help and encouragement.” Angelo B.
  • “This is the best company I have ever worked for. We have such a fantastic atmosphere here that provides you with that work life balance that every[one] strives for. Plus, there are so many opportunities they provide you to work with the community and show your support in volunteering to make you even more engaged in this company. I can’t say enough good things about Community Choice Credit Union. They give so much to me and my community.” Stacey J.
  • “I should have joined Community Choice Credit Union a long time ago!! Everyone there is so friendly and professional. Keep up the good work.” Sylvia T.
  • “Never did I think I would find a job where I feel so at home. I’ve banked here for the majority of my life, so I have always loved CCCU. But becoming a team member has only strengthened my appreciate for this company. Everyone is valued, everyone is heard, everyone feels like family. I would recommend working here to anyone! This is a special place to work and grow within your career.” Colleen A.
  • La’Asia was helping me through my first time buying a car and financing and was so helpful and communicative. Really made a stressful experience, and BREEZE. She is fantastic!!! Patrick M.

Better banking for you is our business

Business owners are the backbone of our communities, and we take pride in making sure they’re covered with accessible banking resources, specialized support, and modern tools to simplify day-to-day operations.

Become a member

Professional cash management services

Checking solutions for every business

Digital banking on any device

Stay local with member centers in Michigan and 30K+ fee-free ATMs nationwide

*Insurance provided through program credit unions subject to certain conditions.