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.

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. 

Visit mycreditunion.gov to learn more about share insurance, view more in-depth examples, and calculate your coverage with their Share Insurance Estimator. You can also download a copy of the brochure “How Your Accounts Are Federally Insured".