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NCUA Insurance

NCUA Share Insurance


What is Share Insurance?

Share insurance, such as that which is provided to our members through the National Credit Union Share Insurance Fund (NCUSIF), insures our members' deposits in the event of institutional failure. THE NCUSIF is a federal fund administered by the National Credit Union Administration (NCUA) and is "backed by the full faith and credit of the United States Government".

What is the source of the money in the NCUSIF?

Since 1985, credit unions have been contributing into the NCUSIF to insure our deposit accounts. By law, federally insured credit unions must maintain 1% of their deposits in the NCUSIF. According to the NCUA, "federal tax dollars have never been used to fund the NCUSIF and no member has ever suffered a loss of funds that was insured by the NCUSIF".

How much coverage does Share Insurance provide?

Each HCCU account is insured up to $250,000 by the NCUA. IRA accounts are insured separately up to $250,000 and revocable trusts are insured separately for $250,000 per beneficiary. Members may be eligible for additional coverage over multiple accounts. Click on the link below for the NCUA Share Insurance Estimator for more details.

How does NCUA share insurance compare to FDIC share insurance?

The coverage provided by NCUA Share Insurance is comparable to share insurance provided through the Federal Deposit Insurance Corporation (FDIC). The FDIC serves as the regulatory body for federally insured banks just as the NCUA serves as the regulatory body for federally insured credit unions.

To learn more about how your deposit accounts are insured, click on the links provided below or visit the NCUA's website:

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