Share accounts in federally insured credit unions are insured up to $250,000 – just as with FDIC coverage at banks. Generally, if a credit union member has more than one individual account in the same insured credit union, those accounts are added together and are insured up to $250,000.

However, shares maintained in different legal ownership capacities may each be separately insured, which means that you may be able to keep substantially more funds at the credit union – conveniently and safely – and still have every dollar protected by federal insurance.

Maintaining different combinations of accounts increases your coverage.

  • Individual accounts insured up to $250,000
  • Individual retirement accounts (IRAs) are insured separately up to $250,000
  • Joint accounts are insured up to $250,000 for each joint owner
  • Revocable trust accounts (POD) are insured up to $250,000 per beneficiary

Not one penny of insured savings has ever been lost by a member of a federally insured credit union. Find out more by visiting NCUA's website at the link below

For more information about how to structure your accounts to maximize federal please click the link below or contact a Member Service Representative.