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Standard FDIC and NCUA insurance covers up to $250,000 of deposits and interest earned on those deposits. Online-only banks also provide FDIC insurance, but fintech companies aren't part of the ...
The NCUA provides standard deposit insurance of $250,000 per individual depositor, per insured credit union. Suppose an individual has $250,000 deposited at one credit union and $100,000 at another.
The FDIC and NCUA protections are identical twins with different names. Both protect your money up to $250,000, and both come with the full backing of the U.S. government.
NCUA publishes a variety of resources for consumers to better understand insurance coverage on their deposits at federally insured credit unions, including: The Share Insurance Estimator, NCUA's interactive site which allows users to input data to compute the amount of Share Insurance Fund coverage available under different account scenarios, and
The National Credit Union Administration (NCUA) is an American government-backed insurer of credit unions in the United States, one of two agencies that provide deposit insurance to depositors in U.S. depository institutions, the other being the Federal Deposit Insurance Corporation (FDIC), which insures commercial banks and savings institutions.
[15] [16] This deposit insurance is backed by the full faith and credit of the United States government and is administered by the National Credit Union Administration. [16] As of December 2006, the NCUSIF had a higher insurance fund capital ratio than the fund for the Federal Deposit Insurance Corporation (FDIC). [17]
The NCUA’s counterpart at banks is the Federal Deposit Insurance Corp. (FDIC). While accounts at credit unions and banks are insured differently, both federal agencies have similar rules and ...
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