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Your Money is Safe at a Credit Union

Published: March 13, 2023

Your Money is Safe at a Credit Union

You can confidently join, bank and save at a federally insured credit union because no member has ever lost a single cent from accounts insured by the NCUA.

Created by Congress in 1970, the National Credit Union Administration (NCUA) is an independent federal agency that insures deposits at federal credit unions. Like the Federal Deposit Insurance Corp., which insures bank deposits, the NCUA makes sure your credit union assets stay secure. It guarantees up to $250,000 per person, per institution, per ownership category.

Backed by the full faith and credit of the United States, the National Credit Union Share Insurance Fund (NCUSIF) covers the balance of each member’s account, dollar-for-dollar up to the insurance limit, including principal. 

Historically, insured funds are available to members within just a few days after the closing of an insured credit union. Failures of federally insured credit unions are rare because only those with sound operational standards qualify to receive NCUSIF coverage. The NCUA also regularly reviews the operations of all federal credit unions and works closely with state regulatory authorities to evaluate federally insured, state-chartered credit unions.

What’s Insured?

The NCUSIF provides all members of federally insured credit unions with $250,000 in coverage for their single-ownership accounts. These accounts include regular shares, checking, money market accounts, and share certificates

You may qualify for more than $250,000 in coverage at one insured credit union if you own share accounts in different ownership categories. The most common account ownership categories for individual and family shares are single-owner accounts, joint accounts, certain retirement accounts, revocable trust accounts, and irrevocable trust accounts.

Maximize Share Insurance

Feel confident knowing that your deposits at U.S. Senate Federal Credit Union are federally insured through the National Credit Union Administration. Each account holder's funds are insured to at least $250,000, and Individual Retirement Accounts are separately insured up to $250,000.

You can maximize your share insurance coverage by establishing different types of accounts. The NCUA insures accounts in different ownership categories separately. If your savings exceed the amount covered by the insurance limits, you can extend your NCUA share insurance coverage by having different types of accounts. You can also get up to $250,000 of additional insurance for your interest in joint accounts and trust accounts of which you are a beneficiary. Learn more about USSFCU’s deposit options below or you can use the Share Insurance Estimator.

The NCUA provides a description of all available types of NCUSIF coverage, along with examples in their brochure How Your Accounts are Federally Insured.

What's Not Covered?

While the NCUSIF coverage protects members at all federally insured credit unions from losses on a broad spectrum of savings and share draft products, it does not cover losses on money invested in mutual funds, stocks, bonds, life insurance policies, and annuities offered by affiliated entities.

NCUA Coverage Estmator

Check Your Coverage

Credit union members can use the Share Insurance Estimator from mycreditunion.gov to calculate what portion of their accounts are insured, and which (if any) exceed coverage limits.


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Need a little guidance or would like to open up a certificate now?

800.374.2758  |  [email protected]  |  my.ussfcu.org

Membership eligibility is required. All deposits are Federally insured by NCUA up to $250,000.


More information on NCUSIF coverage is offered in detail on the NCUA’s consumer website, MyCreditUnion.gov.

*The Share Insurance Estimator is designed to give an accurate share insurance calculation, however, results are strictly advisory. For questions about share insurance coverage, call the NCUA at 1.800.755.1030, or send an email to [email protected].

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Members' Voice Testimonials

This credit union is the best, I love the customer service and you can't beat the interest rates. I'm happy to be a member of this great credit union.

The branch manager introduced herself and was extremely helpful. She stated that if there is anything we ever need to please let her know. Very positive experience!

Greta was absolutely amazing - as always. She makes me and my parents feel valued and supported. We are forever grateful. [The Credit Union] has been hugely supportive over many years. And we feel known and cared for.

Long as I have been with the credit union, I haven't had any problems. I also like the protection on my account.

My overall experience at the credit union was exceptional. The staff was hospitable offering water, my service was timely and professional and the office was well lit and clean.

As a member for more than 40 years, i have always had great service from the USSFCU and know that they stand behind their great reputation.

A top rate Credit Union, [I'm] privileged to be part of! Thank you for all you do for our family! USSFCU Credit Union was able to resolve our financial situation - vehicle, personal loans, customer service/recommendations, within 6 months. We belonged to another credit union for over 20 years, with results not even close to comparison. We switched ...

Your people and products are amazing. The recent [online banking] overhaul is phenomenal. [I've] been electronic banking since Tele action phone banking - paying bills with my push button landline decades ago. USSFCU is light years ahead of everyone else in terms of ease of use and client experience!

I have been a member for more than 30 years. I no longer reside in the DC area but continue to bank with USSFCU because of the ease and the customer service.

I have been a member for over 50 years, and I have always gotten good service with loans, when I had to have service at a branch, and when I needed to have money sent to me from my savings account. The personnel have always been friendly and treated me with respect.

I especially appreciate being able to quickly speak with someone (not a robot) and that person has always been knowledgeable and helpful.

Excellent customer service streamlined and transparent process. The representatives are efficient, knowledgeable, and understanding of the type of loans offered by Credit Union.

The USSFCU behaves as a credit union ought to behave. The staff works with and for the members, not for a corporate board. Interest rates for a car loan, a home improvement loan, and a mortgage are low and terms are transparent.

Staff are courteous and friendly to work with. Very knowledgeable about services and products offered or available. Excellent follow-up with customers.

I have appreciated USSFCU services for many years since I left my work on Capitol Hill. I have appreciated the occasional webinars on purchasing a home or retirement planning.

I have been a member since 2006, and have always appreciated the customer service response to any concern or query. In addition, as I have traveled extensively, USSFCU has provided support and access.

I've had a credit union account for decades, even though I no longer work on Capitol Hill. I now have two accounts. I've been able to do all of our banking remotely, by app or by phone.

I have been a USSFCU member for almost 20 years. There is nowhere else I want my money to be. I always receive excellent service.

I deeply appreciate the stellar service, the proficiency, the professionalism, and the kindness. I am truly honored and grateful to bank with a financial institution that treats customers like family.

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