NCUA Summary

The National Credit Union Administration (NCUA) is an independent federal agency that insures the deposits of credit union members nationwide. Managed by the National Credit Union Administration Board, NCUA examines, supervises and insures both federally-chartered and qualifying state-chartered credit unions. Also managed by the NCUA Board, the National Credit Union Share Insurance Fund (NCUSIF) is a component of NCUA and was established by Congress on October 19, 1970 to insure member accounts. There are no charges or fees directly assessed to members for this coverage. NCUA provides up to $250,000 basic insured amount. General information regarding NCUA coverage is shown in the chart below.

NCUA Coverage Amounts (General Rules)

Account Type
Coverage Amount
Important Information
Individual Account (excludes IRA)
$250,000 per member
All individually owned accounts for each member are added together and insured up to $250,000. Accounts include checking, share, share term certificates, and money market accounts.
Joint Accounts (Insured separately from individual accounts)
$250,000 per member
Each member’s total interest in all joint accounts is added together and insured up to a maximum of $250,000. Accounts include checking, share, share term certificates, and money market accounts.
Traditional IRA / Roth IRA / SEP IRA
$250,000 per member
The balances of all traditional, Roth and SEP-IRAs owned by the same member are added together and insured up to a maximum of $250,000.
Payable on Death Accounts
May qualify for up to $250,000 per beneficiary. Certain restrictions apply.
More detailed information regarding restrictions is available on the websites listed at the bottom of this page. Contact us for more information.

For complete details, please review the Share Insurance section of the National Credit Union Administration website, which includes a Share Insurance Estimator to assist you in determining your deposit insurance coverage. Questions regarding NCUA insurance can be directed to our Kinston branch office.

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