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Home < Invest & Insure < Share Insurance < NCUA Share Insurance

Share Insurance

NCUA Share Insurance
Excess Share Insurance

NCUA Share Insurance

Your deposits are insured by the National Credit Union Share Insurance Fund (NCUSIF), or the “Fund”, an arm of NCUA. Established by Congress in 1970 to insure member share accounts at federally insured credit unions, the Fund is managed by NCUA under the direction of the three-person NCUA Board. Share insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC).

The basic insured amount for a credit union member under current law is $250,000. Share accounts maintained in different rights or capacities, or forms of ownership, may each be separately insured up to $250,000. Thus, a member may hold or have an interest in more than one separately insured share account in the same insured credit union.

All types of member share accounts and deposits received by the credit union in its usual course of business, including regular shares, money market accounts, share certificates and share draft accounts may be insured.

If a member has an Individual Retirement Account in the credit union, this account is separately insured up to $250,000 by NCUA.

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.

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