NCUA Insurance Coverage
NOTICE OF CHANGES IN TEMPORARY NCUA INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
The NCUA insures accounts in federally insured credit unions
through the National Credit Union Share Insurance Fund.
The NCUA insures share accounts for up to $250,000 per
In addition, funds in a “noninterest bearing transaction
account” are insured in full by the NCUA through December
The term "noninterest-bearing transaction account" includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend. It does not include any transaction account that may earn interest or dividends, a negotiable order of withdrawal ("NOW") account, money-market deposit account, and Interest on Lawyers Trust Account ("IOLTA"), even if share drafts may be drawn on the account.
Members can maximize their insurance coverage by setting up
different types of accounts.
Business accounts are insured separately from the individual
accounts of their partners, stockholders and members, except
sole proprietorships are considered individual accounts.
For more information about temporary NCUA insurance coverage of transaction accounts, visit www.ncua.gov.