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A message from the Chairman and Treasurer of the Board of Directors
A message from the President/CEO
Your deposits at EECU are insured by the National Credit Union Share Insurance Fund (NCUSIF), an arm of NCUA. The National Credit Union Administration (NCUA) is the federal agency that administers the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF, like the FDIC's Deposit Insurance Fund, is a federal insurance fund backed by the full faith and credit of the U.S. Government. The NCUA increased share insurance coverage to $250,000 in 2008, and has extended this increased coverage amount through December 31, 2013.
A SIMPLIFIED LOOK AT DEPOSIT INSURANCE
Single Ownership Accounts
Individual accounts owned by a member (savings, checking, and certificate accounts) are insured up to $250,000.
Joint Ownership Accounts
Joint owners on an account qualify for separate insurance coverage and are insured up the $250,000 standard maximum share insurance amount.
Trust Accounts
Trust accounts are insured up to the $250,000 standard maximum share insurance amount. Beneficiaries of trust accounts are also separately insured up to $250,000.
IRA Accounts
Traditional IRA and Roth IRA Accounts are combined and insured up to $250,000, separate from Keogh accounts which are also insured to $250,000.
The chart below shows some examples of how you can maximize your share insurance coverage.
Additional Resources
- NCUA Share Insurance Estimator
- Your Insured Funds
- How Your Accounts Are Federally Insured
- NCUA Insurance FAQ sheet
- NCUA Consumer Assistance Center, open between 8 a.m. and 6 p.m. (EDT) at 1-800-755-1030, press 1 for share insurance questions.
