Share Insurance Overview
Definition
The National Credit Union Share Insurance Fund (NCUSIF) is the federal fund created by Congress in 1970 to insure member's deposits in federally insured credit unions. On July 22, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law and included permanently establishing NCUA’s standard maximum share insurance amount at $250,000. All deposit insurance resources reflect this higher level of coverage.
Administered by the National Credit Union Administration, the NCUSIF is backed by the full faith and credit of the U.S. Government.
How the Fund is Financed?
The NCUSIF maintains at or near 1.30 percent of federally insured credit union deposits. By law, federally insured credit unions maintain one percent of their deposits in the NCUSIF and the NCUA Board can levy a premium if necessary. Credit unions voluntarily capitalized the Fund in 1985 by depositing one percent of their deposits into the Fund.
No federal tax dollars have ever been placed in the Fund, and no member has ever lost money insured by the NCUSIF.
Other Resources
For further information please use the links on the right. The
FAQs provide answers to some of the more common questions regarding the NCUSIF. The
Reports and Statements page provides additional access to NCUA's Annual Reports and recent Financial Statements. The
Share Insurance Toolkit contains information, resources and calculators regarding NCUA’s share insurance protection.
If you're interested in more consumer-specific information about the NCUSIF, please visit the
MyCreditUnion.gov site.