Insurance Coverage
Main article: National Credit Union Share Insurance Fund See also: Deposit insuranceThe National Credit Union Share Insurance Fund (NCUSIF) is the federal fund created by Congress in 1970 to insure member's deposits in federally insured credit unions. On July 22, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law and included permanently establishing NCUA’s standard maximum share insurance amount at $250,000. All deposit insurance resources reflect this higher level of coverage.
Credit unions may also offer an array of additional financial services which are not covered by federal insurance.
Read more about this topic: National Credit Union Administration
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