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Share Insurance

NCUA Share Insurance

Your deposits are insured by the National Credit Union Share Insurance Fund (NCUSIF), or the “Fund”, an arm of NCUA. Established by Congress in 1970 to insure Member share accounts at federally insured credit unions, the Fund is managed by NCUA under the direction of the three-person NCUA Board. Share insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC).

The basic insured amount for a credit union Member under current law is $250,000. Share accounts maintained in different rights or capacities, or forms of ownership, may each be separately insured up to $250,000. Thus, a member may hold or have an interest in more than one separately insured share account in the same insured credit union.

All types of Member share accounts and deposits received by the credit union in its usual course of business, including regular shares, money market accounts, share certificates and share draft accounts may be insured.

If a member has an Individual Retirement Account in the credit union, this account is separately insured up to $250,000 by NCUA.

A more in-depth explanation of insurance coverage can be found on the NCUA website.

Excess Share Insurance

Savings in this credit union may be insured up to $500,000. This exceptional level of coverage is attained through a combination of federal insurance provided by the National Credit Union Administration (NCUA) and private insurance by the Excess Share Insurance Corp. (ESI).

NCUA insures individual savings accounts up to at least $250,000*. In addition, our Board of Directors has chosen to provide an additional $250,000 of savings coverage to qualifying accounts through ESI, a licensed property and casualty insurance company.

For example, if a member has a savings account, a checking account and a certificate of deposit, that when added together totals $290,000, then $250,000 is insured by the NCUA, with the remaining $40,000 insured by ESI. Deposit insurance is provided on a dollar-for-dollar basis and is payable only upon the failure and liquidation of the credit union.

Here’s a Share Insurance Estimator to help you determine your level of coverage.


* It is possible to structure combinations of accounts in such a manner that individuals may qualify for federal insurance well in excess of $250,000.  Also, IRA accounts are federally insured up to $250,000 for each individual, plus up to an additional $250,000 if the IRA is covered by ESI. Ask any Member Services Representative for additional information.