Your deposits are federally insured by the Nation Credit union Share Insurance Fund (NCUSIF) established by Congress in 1970 to insure member share accounts at federally insured credit unions. 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 insure share account in the same insured credit union. If a member has an Individual Retirement Account in the credit union, this account is separately insured up to $250,000 by NCUA.
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