Your Federal Share Insurance

Credit unions insured by the National Credit Union Share Insurance Fund (NCUSIF), an arm of the National Credit Union Administration (NCUA) are protected by federal deposit insurance. NCUA is an independent agency of the United States government. Insured credit unions display this symbol:

Who pays for federal share insurance?

The cost for this important credit union benefit is borne by credit unions. As a member, you do not pay directly for your share insurance protection. Your shares and savings are not only insured by this federal fund, the fund is also fully backed by the U.S. Government. Not one penny of insured savings has ever been lost by a member of a federally insured credit union.

How much coverage does each credit union member have?

Share accounts in federally insured credit unions are insured up to $100,000 - just as with FDIC coverage at banks. Generally, if a credit union member has more than one individual account in the same insured credit union, those accounts are added together and are insured up to $100,000. Shares maintained in different legal ownership capacities may each be separately insured. There are numerous combinations of accounts which can increase the total coverage. Some examples are provided here.

Are shares in different credit unions insured separately?

Yes. If a member has accounts in several different insured credit unions, the maximum of $100,000 is applicable to share accounts in each insured credit union. In the case of a credit union having one or more branches, the main office and all branch offices are considered as one credit union.

How are IRAs, Keogh and Deferred Compensation accounts covered?

With federal share insurance through NCUA, these types of accounts are insured separately up to $250,000 from other accounts that the member maintains at the same credit union. To learn more about your credit union share insurance - or how to maximize your coverage - visit the National Credit Union Administration (NCUA) or drop by your credit union for detail.