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NCUA Share Insurance Fund Information, Reports, and Statements

Frequently Asked Questions


What is NCUA?
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.

What is the purpose of NCUSIF?

The NCUSIF protects members’ accounts in federally insured credit unions, in the unlikely event of a credit union failure. The NCUSIF covers the balance of each member’s account, dollar-for-dollar up to the insurance limit, including principal and posted dividends through the date of the failure.

How do I know if my credit union is Federally Insured?

All federally insured credit unions must prominently display the official NCUA insurance sign at each teller station and where insured account deposits are normally received in their principal place of business and in all branches. Federally insured credit unions are also required to display the official sign on their Internet page, if any, where they accept share deposits or opens accounts. No credit union may end its federal insurance without first notifying members.

All federally insured credit unions can be located under the Credit Union Lookup Option under the Share Insurance page.
Do I have to be a credit union member to be insured at that NCUA-insured credit union?
All primary owners (natural person(s) and non-natural person(s)) on any share account at an NCUA-insured credit union must fall within that credit union's field of membership and be on record as a member of that credit union. Co-owners on joint accounts with no beneficiaries are provided insurance coverage regardless of whether they are a member. However, co-owners on revocable trust accounts must be members of the credit union for their portion of the funds to be NCUA insured. Also, all owners on an irrevocable trust account must be members of the credit union OR all the beneficiaries must be members of the credit union for the account to be NCUA insured. If membership status of a co-owner is unknown, one should inquire with their credit union.

For more frequently asked questions view the Share Insurance Estimator, click here.