Deposit Insurance information
Below are some facts about the deposit insurance provided to Space Coast Credit Union members:
- Each Space Coast Credit Union share account is federally insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF). A “share account” includes all the non-IRA deposit accounts for a primary account holder: savings, checking, and certificates.
Retirement account protection is separate and apart from insurance coverage on other credit union accounts, providing you with additional protection. IRA accounts and KEOGH accounts are insured separately from the share account up to $250,000.
Members’ traditional and Roth IRAs are insured for up to $250,000 “in the aggregate,” meaning that if you have more than one IRA account in your name, the total of all the accounts is what is considered.
KEOGH accounts are covered separately, also in the aggregate, up to $250,000.
For example, if you have a regular share account, an IRA, and a KEOGH at the same credit union, the NCUSIF insures the regular share account for up to $250,000, the IRA for up to an additional $250,000, and the KEOGH for up to an additional $250,0001.
Additional Resources:
How Your Accounts Are Insured
A summary brochure that provides an overall description of NCUSIF Share Insurance
NCUA Share Insurance Estimator
An online calculator that allows you to input data to compute the amount of NCUSIF coverage available under different account structure scenarios
Your Insured Funds
This comprehensive brochure contains a detailed discussion of all available types of coverage offered by the NCUSIF, along with examples illustrating how the coverage actually works in practice
¹Source: Source: “How Your Accounts Are Insured”, NCUA 8016, Revised 11/07Source
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