Deposit accounts at FCCU are now insured up to $1,000,000!
This exceptional coverage is achieved through a combination of federal insurance, provided by the National Credit Union Administration (NCUA), and private insurance from Excess Share Insurance Corporation (ESI).
Share insurance protects members' accounts in insured credit unions, in the unlikely event of a credit union failure. Deposits at a federally-insured credit union are insured up to $250,000 by the NCUA (NCUA, 2024).
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Your Coverage
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First, NCUA’s basic federal coverage insures your deposits up to $250,000. For details about federal deposit insurance, or how to structure your accounts to qualify for greater federal coverage, check out the NCUA Consumer Assistance Center.
Second, accounts exceeding the maximum level of coverage provided by NCUA are also insured up to an additional $750,000 by excess share insurance.
Coverage Per Member with Excess Insurance*
|
Account Type |
NCUA Coverage |
ESI Coverage |
Total Insured |
|
Individual |
$250,000 |
$750,000 |
$1,000,000 |
|
Joint |
$250,000 |
$750,000 |
$1,000,000 |
|
IRA |
$250,000 |
$750,000 |
$1,000,000 |
|
Business |
$250,000 |
$750,000 |
$1,000,000 |
*Example Only
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Resources
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Is the Money in My Account Safe?
Your financial institution is one of the safest places to store your hard-earned cash. The best part? All you have to do is open an account.
Is Your Money SAFE at a Credit Union? NCUA Share Insurance Explained.
Dani’s here to teach you about share/deposit insurance and why it’s important that your financial institution is NCUA or FDIC insured.
How Does Share Insurance Work?
Share insurance coverage offered through the NCUSIF protects members against losses if a federally insured credit union should fail.
Share Insurance Estimator
The Share Insurance Estimator can be used to calculate the insurance coverage of all types of share accounts offered by a federally insured credit union.
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