Your deposits are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government through the National Credit Union Share Insurance Fund.
The deposit insurance you receive applies to both your regular savings accounts and your individual retirement accounts (IRAs). Your IRA deposits are also separately insured to at least $250,000.
Plus, you can greatly increase your level of deposit insurance by making minor adjustments to how your accounts are organized. For example, look at how the following account setup can maximize your coverage:
Basic deposit insurance scenario: Family of four (Mother Jane, Father Tom and children Bobby and Charlotte)
|SINGLE ACCOUNT OF JANE
|SINGLE ACCOUNT OF TOM
|JOINT ACCOUNT OF JANE AND TOM
|IRA FOR JANE
Want to know how much you’re insured for? You can estimate your level of deposit insurance at the National Credit Union Association website by using the free Electronic Share Insurance Calculator. Click here to begin.
For personalized advice on how to maximize your deposit insurance, call 800-234-0729 and let us help you. Also, look for the NCUA logo (below), which tells you that your money is federally insured.