The shares (savings deposits) in your credit union are insured by the National Credit Union Share Insurance Fund (NCUSIF) an arm of the National Credit Union Administration (NCUA).  Established in congress in 1970 to insure member share accounts at federally insured credit unions, the fund is managed by the NCUA under the direction of the three persons NCUA Board.  Your share insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC).

Insured credit unions are required to deposit and maintain one percent of their insured shares and deposits in the NCUSIF.  The fund is currently at the strongest and best reserved level in its history.  As a member of an insured credit union, you do not pay directly for your share insurance protection.  Your credit union pays into the NCUSIF a deposit, and an insurance assessment, based on the total amount of insured shares and deposits in the credit union.


The basic insured amount for a credit union member under current law is $100,000.  Share accounts maintained in different rights and capacities, or forms of ownership, may each be separately insured up to $100,000.  Thus a member may hold or have an interest in more than one separately insured share account in the same insured credit union.