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Despite the many advancements of the digital age, there are still several paper documents you will acquire over the course of your life that need to be protected. This collection begins with a birth certificate and social security card, and over time, may include a marriage certificate, divorce decree, trust, or power of attorney. If you’re not sure where to store these documents safely, your credit union has the answer. 

3 Facts to Know About Credit Union Safe Deposit Boxes

What You Can Store

credit unionFor a low fee, you can protect all of your original documents from theft, flood, and fire in your home. Essential information like vehicle titles and property deeds aren’t the only items you can protect, though. If you have roommates who often invite people over whom you don’t know or feel comfortable leaving jewelry and other small valuables around, you can put these valuables in the safe deposit box, as well.

Business Hours

There are a few caveats to storing certain items in your safe deposit box that you need to consider before placing your valuables and important documents in one. For example, you will only be able to retrieve the contents during normal business hours. As a result, you should not store anything you’ll need in an emergency, like a power of attorney or your passport.

Insurance Protection

It is also important to remember that insurance does not automatically protect the contents of your box. The FDIC coverage that applies to any cash in your account does not extend to the valuables in your safe deposit box; however, you can usually purchase coverage for the items for a nominal fee if you wish.

 

With hundreds of millions of dollars in assets and over 50,000 members across Hawaii, Hawaiian Tel Federal Credit Union is one of the leading financial institutions in the state, with a reputation for combining personalized service with technologically advanced personal banking solutions. Learn more about their broad array of services online, follow their FacebookTwitter, and Instagram for news and updates, or call the credit union at 832-8700 on Oahu or toll-free at (800) 272-5255 with any questions. 

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