University Credit Union share deposits are insured to $500,000 with a combination of federal insurance and private insurance. This provides our members with some of the highest coverage possible per member account.
University Credit Union share deposits are federally insured through the National Credit Union Administration in the National Credit Union Share Insurance Fund (NCUSIF). The fund is backed with the full faith and credit of the United States Government up to at least $250,000 per member share account (through December 31, 2013). The NCUSIF is one of the most strongly capitalized funds in the country and is funded only by credit unions for credit unions. If you would like some additional information about the Share Insurance Fund, please e-mail us to request an information brochure.
Informational resources at the NCUA:
In addition to the federal insurance program, University Credit Union has taken the added step to insure greater portions of our members money up to $500,000, well beyond the typical $250,000 offered by other financial institutions. The additional insurance coverage is the highest level of combined federal/private share savings insurance available. This coverage has become available through our addition of excess insurance coverage from American Share Insurance (ASI), which provides $250,000 in coverage on top of the federal government's $250,000. Go to the American Share Insurance (ASI) web site for information on Excess Share Insurance from the source.
Separate IRA Deposit Insurance
University Credit Union offers separate protection for IRA deposits through the NCUA and ASI deposit insurance. The NCUA offers separate insurance up to $250,000 per IRA account. ASI offers an additional $250,000 of insurance up to a NCUA/ASI combined total of $500,000.
More Information
If you would like some additional information about the NCUSIF or the ASI Share Insurance Funds, please e-mail us to request an information brochure.
