Skip to main content

NCUA Share Insurance

The National Credit Union Administration (NCUA) insures member deposits. Learn more about coverage limits, types, and amounts.

NCUA is an independent federal agency that examines and supervises federally insured credit unions. The NCUA also administers the National Credit Union Share Insurance Fund (NCUSIF). NCUSIF was established by Congress in 1970 and insures member deposits in all federal credit unions nationwide as well as in qualifying state-chartered credit unions. The NCUSIF is backed by the full faith and credit of the United States government.

 

Federally insured credit unions display the official NCUA insurance sign in their advertising anywhere deposits are normally accepted (e.g., teller stations, ATMs, etc.) and on their websites where they accept deposits or open accounts.

Basic coverage limits

The standard NCUA share insurance coverage amount is $250,000 per owner for each individual account. Deposits in Payable-on-Death (POD) and Trust accounts may have additional insurance coverage depending on the number of qualifying named beneficiaries.1 There are no charges or fees assessed to members for this coverage.

Are your deposits covered? Use the NCUA Share Insurance Estimator to determine what, if any, portion of your deposits exceeds coverage limits. This interactive site allows users to input data to compute the amount of NCUSIF coverage available under different account scenarios.

Covered account types

NCUA share insurance covers the following types of Credit Union accounts:

  • Checking accounts

  • Share (savings) Accounts including FAT CAT,® Zard,® and other types of share accounts

  • Money Market Share Accounts

  • Share Term Certificates

  • Individual Retirement Accounts (IRAs) — traditional and Roth

  • Coverdell Education Savings Accounts (CESAs)

Coverage amount rules

NCUA Share Insurance covers up to $250,000 in each member’s account separately, based on the ownership category. The most common ownership categories are Individual, Joint, Retirement, Revocable Trust (including Payable On Death [POD] Accounts and certain Health Savings Accounts [HSAs]), and Irrevocable Trust Accounts (including CESAs). Deposits in Trust Accounts, including POD accounts, may have additional insurance coverage depending on the number of each owner’s named beneficiaries.

 

Ownership typeCoverage amountExplanation
Individual$250,000Total amount in qualifying individual accounts combined
Joint$250,000 per ownerAmount per each owner’s interest in qualifying joint accounts combined
Retirement$250,000 per owner

Amount in all traditional, Roth and SEP-IRAs combined

Beneficiaries do not change coverage amount

Payable on Death and Revocable TrustMay qualify for up to $250,000 per named beneficiary

Amount per beneficiary, for each owner

Special rules for accounts with six or more beneficiaries

Irrevocable Trust and Coverdell ESAsMay qualify for up to $250,000 per named beneficiaryAmount per beneficiary, for each owner

 

For more information, consult the Share Insurance Coverage Overview on MyCreditUnion.gov.

If you have questions regarding NCUA insurance, contact your local branch, Member Services Support at (888) 732-8562, or submit a secure message in Press Pass. 

  1. Maximum insurance coverage is calculated based on the type of ownership (i.e., individual, joint, trust and retirement) and whether there are qualifying named beneficiaries. You may qualify for more than $250,000 in total coverage in one credit union if you own accounts in different ownership categories or with different beneficiaries. See the Share Insurance FAQs for additional information.