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Account Insurance

Share Insurance coverage

We understand that your money is important to you. To protect our members, we provide Share Insurance coverage, which is offered through the National Credit Union Administration (NCUA). As such, your funds are federally insured for up to $250,000 or more and are backed by the full faith and credit of the United States government.

What coverage does the NCUA provide?

All individual standard share accounts are insured for up to $250,000. This includes regular shares (savings account), share drafts (checking accounts), money market accounts, and share certificates. Retirement accounts such as traditional IRAs and Roth IRAs are covered for up to $250,000 and are insured collectively.

For example, a member with a Share account and IRA account is covered:

Share Insurance coverage example for account types, deposit and insured amount
Type of AccountFunds DepositedFunds Insured
Total Insured$450,000
Share account (interest bearing)$200,000$200,000
Traditional IRA (interest bearing)$250,000$250,000

For more information about NCUA insurance coverage, view the NCUA Share Insurance brochure.

What if I need additional coverage?

Your accounts are eligible to receive additional government account insurance coverage. For example, accounts with named qualifying beneficiaries receive up to $250,000 for each beneficiary designated on the account. Another way to increase your coverage is by having a joint account. Joint accounts without beneficiaries are insured separately for $250,000 each. This means that a joint account between two people is insured by the NCUA for $500,000. It is important to note that joint accounts titled with the same owners are insured aggregately to $250,000 regardless of how many different accounts there are.

We will work with you to maximize the amount of coverage you are eligible to receive. Get peace of mind in knowing that no member has ever lost money insured by NCUSIF. If you have any questions, please stop by your local branch location, email us at or call us at 305.545.0744 or 877.595.0744.

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