What is the NCUA?

The National Credit Union Administration (NCUA), established by the U.S. Congress in 1970, is an independent federal agency. Its main roles include insuring deposits at federally insured credit unions, protecting credit union members, and chartering and regulating federal credit unions.

What is the NCUSIF?

The National Credit Union Share Insurance Fund (NCUSIF) was established by Congress in 1970 to insure member share accounts at federally insured credit unions. It’s similar to the deposit insurance provided by the FDIC for banks.

Members of federally insured credit unions automatically receive share insurance coverage. This covers individual accounts up to $250,000, joint accounts up to $250,000 per owner, and IRA and KEOGH retirement accounts up to $250,000.