Deposit Insurance from NCUA

Properly established share accounts at a credit union are insured up to $100,000 by the National Credit Union Share Insurance Fund (NCUSIF). This Fund is an arm of the National Credit Union Administration that regulates all federally chartered credit unions. Share insurance at credit unions is similar to the deposit insurance protection at banks offered by the FDIC.

Generally, each member's accounts are insured up to a total of $100,000. However, with multiple accounts, total coverage may be higher if the member has different ownership interests or rights in different types of accounts and all account forms are completed properly. Here are a few examples:

• Mary Doe's checking account balance is $40,000 and she has a $75,000 regular savings certificate. Her insurance is limited to $100,000.
• Mary Doe's checking account balance is $40,000 and she has a $75,000 IRA savings certificate. All of the balances are insured because the IRA account is insured separately.
• Mary and John Doe's joint checking account balance is $40,000 and they have a $75,000 savings certificate. All of their balances are insured.

The rules can get somewhat complicated with different types of accounts, especially with children and trust accounts. Careful structuring can enable you to all your balances protected. Talk with a credit union representative to make sure you get the maximum protection if your accounts exceed $100,000.

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