News ReleasesNews you'll want to knowInsurance coverage increases to $250,000The Emergency Economic Stabilization Act of 2008, which has been getting a lot of press lately, was signed into law on October 3, 2008 and increased the insurance coverage on all savings and checking accounts from $100,000 up to $250,000 through December 31, 2013. Your funds on deposit at NuUnion are insured by the National Credit Union Association (NCUA) and are backed by the full faith and credit of the United States Government. The NCUA is the federal agency that insures savings in credit unions across the country through their National Credit Union Share Insurance Fund (NCUSIF). This offers you an extra measure of protection for the money you have in your savings, checking, money markets, certificates of deposit, trust funds, and retirement accounts. In fact, not one penny of insured savings has ever been lost by a member of a federally insured credit union. The NCUSIF now insures up to $250,000 for individual accounts and $500,000 for joint accounts. And in recent years, the coverage for individual retirement accounts (IRAs) had already risen to $250,000. Depending on the type and ownership of the accounts, deposit insurance coverage could be more. In these uncertain times, you can rest assured that your money at NuUnion is safe and protected by the NCUA. We'll keep you updated on future changes. Insurance Coverage Resources: Informational video about NCUA InsuranceHow to structure your accounts to maximize the insurance coverage available. Share Insurance Estimator°Allows you to estimate the amount of insurance coverage based on your unique situation. How your accounts are federally insured°Provides general information regarding insurance coverage. Your insured funds°Provides a detailed explanation of insurance coverage along with examples of account coverage. Frequently asked questions
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