About the National Credit Union Share Insurance Fund
The National Credit Union Share Insurance Fund
is the federal fund created by Congress
in 1970 to insure member’s deposits in credit unions up to the $250,000 federal limit. IRAs are also insured up to $250,000. Administered by the National Credit Union Administration (NCUA), the NCUSIF is backed by the “full faith and credit”
of the U.S. Government.
The NCUA is an independent federal agency that supervises and insures approximately 5,300 federal credit unions and insures approximately 3,200 state-chartered credit unions. It is entirely funded by credit unions and receives no tax dollars.