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Understanding Your Account Insurance Coverage


The National Credit Union Share Insurance Fund (NCUSIF) is a U.S. Treasury revolving fund managed by the National Credit Union Administration (NCUA). Just as the Federal Deposit Insurance Corporation (FDIC) covers deposited funds at banks, NCUA covers deposited funds at credit unions. Of the nearly 10,000 credit unions in the U.S., more than 97 percent are covered by the NCUSIF, which is backed by the full faith and credit of the U.S. government.

The basic insured amount for a credit union member is $250,000 . Share accounts maintained in different rights or capacities, or forms of ownership, may each be separately insured up to $250,000 with properly completed account applications. NCUA insured credit union retirement accounts such as Individual Retirement Accounts (IRAs) and Keogh accounts are insured up to $250,000. Under new rules, traditional and Roth IRAs at one credit union are now insured in the aggregate to $250,000. Additionally, NCUA insures Keogh accounts separately in the aggregate to $250,000.

The NCUA brochure “Your Insured Funds” can help you determine the insurable amount.

You can view it in PDF format