Your credit union regular share accounts are insured to $250,000 by the National Credit Union Administration (NCUA), the federal regulatory agency responsible for overseeing the National Credit Union Share Insurance Fund. Retirement accounts, including IRA share accounts and Roth and traditional IRA certificates, are covered separately to $250,000 by NCUA.
When you see the NCUA emblem, you know that your deposits are backed by the full faith and credit of the U.S. government. Not one penny of insured savings has ever been lost by a member of a federally insured credit union.
Generally, if a credit union member has more than one individual account in the same insured credit union, those accounts are added together and are insured up to $250,000. Shares maintained in different legal ownership capacities may each be separately insured. There are numerous combinations of accounts that can increase the total coverage. Please contact a Member Service Representative to discuss ways you may be able to increase the total coverage of your accounts.