All funds deposited at credit unions are federally insured up to $250,000 by the National Credit Union Administration (NCUA), an agency of the Federal Government.

In addition, IRA accounts are insured separately by NCUA. All IRA retirement accounts are aggregated together and insured up to $250,000 per owner. (No increased coverage based on beneficiaries).

No member of a federally insured credit union has ever lost any money. Credit unions support the operations of the National Credit Union Share Insurance Fund (NCUSIF) by maintaining a deposit with the Fund equal to a percentage of their insured savings. If events occurred that caused the NCUSIF equity ratio to fall below 1%, responsibility to immediately replace the funds would lay on credit unions--not the taxpayer.