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NCUA
Basic NCUSIF Share Insurance Coverage
The basic insured amount for a credit union member under current law is $100,000. Share accounts maintained in different rights or capacities, or forms of ownership, may each be separately insured up to $100,000. Thus, a member may hold or have an interest in more than one separately insured share account in the same insured credit union.
Types of Accounts That Can Be Insured
All types of member share accounts and deposits received by the credit union in its usual course of business, including regular shares, share certificates, and share draft accounts are insured.
If a member has a regular share account and an Individual Retirement Account in the same credit union, each account is insured up to $100,000.
The NCUA Insurance booklet gives a more detailed explanation of insurance coverage. Please pick up a booklet at the main branch of USF Federal Credit Union, or visit the NCUA website.
Not one penny of insured savings has ever been lost by a member of a federally insured credit union.
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