NCUA Insurance
Your money is Safe & Sound.
NCUA coverage is to credit unions as FDIC coverage is to banks. Both funds are backed by the full faith and credit of the U.S. government.
The passage of the Emergency Economic Stabilization Act of 2008 increased NCUA coverage from $100,000 to $250,000. The increase is temporary, taking effect from October 3, 2008 until December 31, 2009. Funds may be insured for even more than $250,000, depending on how you establish your accounts. The following illustrations show how typical families may use multiple ownership of accounts to increase the insurance coverage for their family funds. In all cases, the accounts illustrated must meet the share insurance coverage requirements as published in the code of Federal Regulations. Click here for full details.
Individual |
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$250,000 |
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Individual Account |
$250,000 |
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Individual Retirement Account |
$500,000 |
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TOTAL |
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Family of 2 |
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|
$250,000 |
|
Husband Individual Account |
$250,000 |
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Wife Individual Account |
$ 500,000 |
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Joint Tenancy Husband & Wife Account |
$250,000 |
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Testamentary Revocable-Husband as Trustee for Wife |
$250,000 |
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Testamentary Revocable-Wife as Trustee for Husband |
$1,500,000 |
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TOTAL |
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Family of 3
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|
|
$250,000 |
|
Husband Individual Account |
$250,000 |
|
Wife Individual Account |
$250,000 |
|
Child Individual Account |
$250,000 |
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Joint Tenancy Husband & Wife Account* |
$250,000 |
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Joint Tenancy Husband & Child Account* |
$250,000 |
|
Joint Tenancy Wife & Child Account* |
$250,000 |
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Testamentary Revocable-Husband as Trustee for Wife |
$250,000 |
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Testamentary Revocable-Husband as Trustee for Child |
$250,000 |
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Testamentary Revocable-Wife as Trustee for Husband |
$250,000 |
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Testamentary Revocable-Wife as Trustee for Child |
$2,500,000 |
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TOTAL |
*The Husband is insured to $250,000 on his two accounts with Wife and Child. The Wife is insured to $250,000 on her two accounts with Husband and Child. The Child is insured to $250,000 on his/her accounts with father and mother.
Family of 4 |
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|
$250,000 |
|
Husband Individual Account |
$250,000 |
|
Wife Individual Account |
$250,000 |
|
Child #1 Individual Account |
$250,000 |
|
Child #2 Individual Account |
$250,000 |
|
Joint Tenancy Husband & Wife Account* |
$250,000 |
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Joint Tenancy Husband & Child #1 Account* |
$250,000 |
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Joint Tenancy Wife & Child #2 Account* |
$250,000 |
|
Child #1& Child #2 Account* |
$250,000 |
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Testamentary Revocable-Husband as Trustee for Wife |
$250,000 |
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Testamentary Revocable-Wife as Trustee for Husband |
$250,000 |
|
Testamentary Revocable-Husband as Trustee for Child #1 |
$250,000 |
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Testamentary Revocable-Wife as Trustee for Child #1 |
$250,000 |
|
Testamentary Revocable-Husband as Trustee for Child #2 |
$250,000 |
|
Testamentary Revocable-Wife as Trustee for Child #2 |
$3,500,000 |
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TOTAL |
*As in the previous illustration, none of the co-owners has an interest of more than $250,000 in all of the joint accounts, so the total amount held by the each of the co-owners in all of the joint accounts is insured.
NCUA Insurance Call Center
Call 1-800-755-1030 ext 1 from 7:00 am - 5:30 pm CST to speak with an insurance expert.
Click here to estimate your insurance. Then click the share insurance estimator. |
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