How To Apply
Interested financial institutions are required to complete an application and submit selected financial statements, critical operating policies, and other pertinent data to the company's Risk Management Department for consideration. Qualifying financial institutions will be assigned a risk-rating score for purposes of calculating their future monthly premium charges for the actual coverage required. Along with the monthly premiums, all participating credit unions are required to submit monthly financial statements, a delinquent loan report and a listing of all account holders.
UKGC also conducts on-site examinations of its participating member financial institutions to confirm the validity of the data submitted to the corporation, and to assess the safety and soundness of all insured member financial institutions. As a rule, these examinations are conducted at no cost to the participating financial institution.
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