NCUA Insurance Coverage

Is my money safe in a credit union?

Credit unions encourage their members to save regularly to build economic security for themselves and their families.

Federally insured credit unions offer a safe place for you to save your money, with deposits insured up to $250,000 per individual depositor. The National Credit Union Administration (NCUA) is the independent agency that administers the National Credit Union Share Insurance Fund (NCUSIF). Like the FDIC's Deposit Insurance Fund, the NCUSIF is a federal insurance fund backed by the full faith and credit of the United States government.

The NCUSIF insures member savings in federally insured credit unions, which account for about 98 percent of all credit unions in the United States. Deposits at all federal credit unions and the vast majority of state-chartered credit unions are covered by NCUSIF protection.

MSIC (Massachusetts Credit Union Share Insurance Corporation) fully insures all excess, without limits, shares and deposits above the federal insurance (NCUSIF) limit of $250,000.

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