Page Banner image

You work hard for your money, and you shouldn’t have to worry about whether or not it’s protected.

With strong federal share insurance backed by the full faith and credit of the United States, you won’t have to. The shares in your Chevron Federal Credit Union accounts are insured up to $250,000 (possibly more depending on your account structure), by the National Credit Union Share Insurance Fund (NCUSIF), which is an arm of the National Credit Union Administration (NCUA). 

Look for the NCUA sign

Chevron Federal Credit Union and all credit unions insured by NCUSIF must display the official NCUA insurance sign in their branches and physical locations. So when you visit your local Chevron Federal Credit Union branch, you’ll be reminded that you’re in good hands. 
Banner Image

The specific level of coverage is based on both the account type and the ownership of each account:

  • Individual member accounts: $250,000 per member-owner
  • Joint member accounts: $500,000 ($250,000 per member)
  • Individual Retirement Accounts (IRAs): $250,000 per member-owner
  • Trust accounts: each member-owner is insured up to $250,000 for each eligible beneficiary named or identified in the revocable trust, subject to limitations and requirements

What if I have more than one account in my name?

The NCUSIF provides all members of federally insured credit unions with up to  $250,000 in coverage for their single ownership accounts cumulatively. For example, if you have an individual checking account, an individual savings account, and a share certificate in your name, those accounts are considered together as your single ownership accounts and are insured in the aggregate. If your account balances total $250,000 or less at the same insured credit union, you are fully insured.

However, you may obtain separate coverage on multiple accounts if you have different ownership interests or rights in different types of accounts and you properly complete account forms and applications.

For example, if you have an individual savings account and an IRA at the same federally insured credit union, the individual savings account is insured up to $250,000 and the IRA is separately insured up to $250,000 because you have different ownership rights in each account. That’s up to $500,000 in insurance coverage.

If you have an individual checking account and a joint savings account at the same federally insured credit union, the individual checking account is insured up to $250,000 and your part of the joint savings account is separately insured up to $250,000 because they are different ownership types. The total insurance coverage of the joint account (up to $500,000 for the two joint members) and individual checking account (up to $250,000) is up to $750,000.

Visit to learn more about share insurance, view more in-depth examples, and calculate your coverage with their Share Insurance Estimator. Feel free to call us, make an appointment, or stop in a branch to speak with us about organizing your accounts for the maximum amount of federal insurance. 

You can also download a copy of the brochure “How Your Accounts Are Federally Insured".

Learn more on our blog

Sources: “Share Insurance Protects Your Savings” and “Higher Deposit Coverage Gives You More Reasons to Save” (Copyright 2007), Credit Union National Association Inc., and "Your Insured Funds, " National Credit Union Administration.

Information subject to change without notice. All other rights reserved.

From everyday finance to life’s big money moments, it’s better when you belong.