NCUA Insurance Coverage

Federal Share Insurance: Your Warranty of Safety

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.

How much coverage does each credit union member have?

Share accounts in federally insured credit unions are insured to at least $250,000; 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 to at least $250,000. Shares maintained in different legal ownership capacities may each be separately insured.

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 backed by the full faith and credit of the United States government. In fact, not one penny of insured savings has ever been lost by a member of a federally insured credit union.

Are shares in different credit unions insured separately?

Yes. If a member has accounts in several different insured credit unions, the maximum of $250,000 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.

Are retirement accounts insured?

The NCUSIF insures retirement accounts separately from regular share accounts. Individual Retirement Accounts (IRAs) and self-directed retirement accounts such as a Keogh Plans are each insured for an additional $250,000.

For more information

Visit the NCUA website to find resources, tools, publications and reports.