Your savings are safe and insured by the National Credit Union Share Insurance Fund.
Your credit union shares are backed by the National Credit Union Administration (NCUA), an independent agency responsible for managing the National Credit Union Share Insurance Fund (NCUSIF). This federal insurance fund is similar to the FDIC's Deposit Insurance Fund and is guaranteed by the United States 政府ernment's full faith and credit. You can rest assured knowing that your investment in your credit union is secure and protected.
Established by Congress in 1970 to insure member share accounts at federally insured credit unions, the NCUSIF is managed by NCUA under the direction of the three-person NCUA Board. Your share insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC). Not one penny of insured savings has ever been lost by a member of a federally insured credit union.
Credit unions encourage their members to save regularly to build economic security for themselves and their families. Federally insured credit unions offer a safe place for you to save your money, with deposits insured up to at least $250,000 per individual depositor.
WHY IS NCUSIF SHARE INSURANCE COVERAGE IMPORTANT?
Share insurance coverage offered through the NCUSIF protects members against losses if a federally insured credit union should fail. You can confidently join and conduct business with federally insured credit unions because no member has ever lost a penny from accounts insured by the NCUSIF. 从历史上看, insured funds are available to members within just a few days after the closing of an insured credit union. Failures of federally insured credit unions are rare because only those with sound operational standards qualify to receive NCUSIF coverage. The NCUA also regularly reviews the operations of all federal credit unions and works closely with state regulatory authorities to evaluate federally insured state-chartered credit unions.
WHAT BASIC COVERAGE IS PROVIDED BY THE NCUSIF?
The NCUSIF provides all members of federally insured credit unions with $250,000 in coverage for their single-ownership accounts. These accounts include regular shares, share drafts (similar to checking), 货币市场账户, 以及股票证书. Individuals with account balances totaling $250,000 or less at the same insured credit union are fully insured. If a person has more than $250,000 at any single credit union, several options are available for additional share insurance coverage because, as discussed in greater detail (right), the NCUSIF provides separate insurance for other accounts.
Members have full NCUSIF coverage at each federally insured credit union where they are qualified members. While the NCUSIF coverage protects members at all federally insured credit unions from losses on a broad spectrum of savings and shares draft products, it does not cover losses on money invested in mutual funds, 股票, 债券, 人寿保险单, and annuities offered by affiliated entities.
DOES THE NCUSIF PROVIDE ADDITIONAL COVERAGE?
All members of federally insured credit unions have options for coverage that is separate from and in addition to the coverage available to their single ownership accounts.
退休账户
Members with traditional and Roth Individual 退休 Accounts (IRAs) and KEOGH retirement accounts at federally insured credit unions have additional coverage available at each federally insured credit union where they qualify and become members. The NCUSIF insures traditional and Roth IRAs for $250,000 in the aggregate at each credit union. 另外, the NCUA insures KEOGH accounts separately in the aggregate of $250,每个信用社都有一万块. 退休 account insurance protection is separate and apart from insurance coverage on other credit union accounts. 例如, if you have a regular share account, 一个爱尔兰共和军, and a KEOGH at the same credit union, the NCUSIF insures the regular share account for up to $250,000, the IRA for up to an additional $250,000, and the KEOGH for up to an additional $250,000.
联合账户
Joint accounts are owned by two or more people who have equal rights to withdraw money from the account, and no beneficiaries are named. These accounts can include regular shares, share drafts (similar to checking), 货币市场账户, 以及股票证书. The NCUSIF provides each joint account holder with $250,000 coverage for their aggregate interests at each federally insured credit union.
例如, a two-person joint account with no beneficiaries has $500,000 in coverage. This coverage is separate from and in addition to the coverage available for other accounts, such as individual accounts with no beneficiaries and retirement accounts.
信托账户
The NCUSIF provides separate coverage for both revocable and irrevocable trusts. Credit unions can establish a common informal revocable trust payable-on-death account without additional documentation; however, some trusts require additional, valid documentation to qualify for coverage. While this brochure briefly discusses how the NCUSIF insures trusts, members should consult appropriate professionals to properly establish and document trust arrangements.
可撤销的信任
Revocable trust accounts may qualify for insurance coverage of up to $250,000 per beneficiary named by the owner (if a member of the credit union) that is separate from the individual coverage available to the trust owner (also referred to as grantor or settlor). 例如, if a person with a revocable trust for $750,000 names a spouse and two children as beneficiaries, 整个750美元,000 would have separate NCUSIF coverage ($250,每名受益人000美元). This coverage is separate from the coverage provided to the other types of accounts held by the trust’s owner at the same federally insured credit union.
不可撤销信托
Irrevocable trusts have separate coverage based on the beneficial interest. The interest of each beneficiary in an account (or accounts) established as an irrevocable trust has separate NCUSIF coverage of up to $250,000. In cases where a beneficiary has an interest in more than one trust arrangement created by the same owner, the interests of the beneficiary in all accounts established under such trusts are added together for insurance purposes and insured for a total of up to $250,000.
HOW DO I KNOW MY CREDIT UNION IS FEDERALLY INSURED?
Federally insured credit unions are required to indicate their insured status in their advertising and to display the official NCUSIF insurance sign in their offices and branches. For a complete directory of federally insured credit unions, visit the NCUA’s agency website at ncua.政府.
覆盖范围
The standard share insurance amount is $250,每股股东000美元, 每个投保信用社, for each account ownership category. 250美元的,000 standard share insurance account became permanent through the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
THE NCUA SHARE INSURANCE ESTIMATOR
The NCUA Electronic Share Insurance Estimator is available to help members better understand the protection offered by the NCUSIF. This interactive site allows users to input data to compute the amount of NCUSIF coverage available under different account scenarios. This resource is available at MyCreditUnion.政府 /估计量.
WHERE CAN I FIND MORE INFORMATION?
The NCUA has more information available to help credit union members better understand how the NCUSIF keeps their accounts safe and protected. A comprehensive booklet entitled Your Insured Funds is available on the ncua.政府和MyCreditUnion.政府网站. This booklet contains a detailed discussion of all available types of NCUSIF coverage, along with examples illustrating how the coverage works in practice. You can get additional information about credit unions and the financial services they offer, as well as tips on how to save, 制定预算, and plan for a major purchase at the NCUA’s consumer website, MyCreditUnion.政府.