National Credit Union Share Insurance Fund - NCUSIF Insured Accounts

NCUSIF Insured Accounts

Since the passage of the Federal Deposit Insurance Reform Act of 2005 deposits were insured for up to $100,000 per insured account, or $250,000 for certain retirement accounts. The passage of the Emergency Economic Stabilization Act of 2008 increased the amount of covered shares to $250,000 until the end of 2013. This increase was made permanent by the Dodd–Frank Wall Street Reform and Consumer Protection Act in July 2010.

NCUA insurance covers "member share accounts and deposits":

• Share draft accounts (aka "checking accounts").
• Share savings that can be added to or withdrawn from at any time.
• "Money market share" accounts, essentially high-interest share savings accounts (the name is similar to "money market funds" which are not insured).
• Share certificates (CDs), which generally require funds be kept in the account for a set period.
• Outstanding Cashier's Checks, Interest Checks, and other negotiable instruments drawn on the accounts of the credit union.

Accounts at different credit unions are insured separately. All branches of a credit union are considered to comprise a single credit union. NCUA publishes a guide entitled Your Insured Funds setting forth the general contours of NCUSIF insurance, and addressing common questions asked by credit union members regarding insurance.