NCUA Share Insurance Tool Kit
NCUA Insurance FAQs
NCUA Insurance Guide
NCUA Insurance e-Calculator
Are my deposits at COPFCU insured?
Yes! Share accounts in federally insured credit unions are insured up to $250,000 by the National Credit Union Administration
(NCUA). The National Credit Union Administration (NCUA) is the federal agency that administers the National Credit Union
Share Insurance Fund (NCUSIF). The NCUSIF, like the FDICís Deposit Insurance Fund, is a federal insurance fund backed by
the full faith and credit of the U.S. Government. Credit unions that are insured by NCUSIF must prominently display the official
NCUA insurance sign. No credit union may terminate its federal insurance without first notifying its members.
The Emergency Economic Stabilization Act of 2008 increased the insurance coverage on all accounts up to $250,000. Before the
Emergency Economic Stabilization Act of 2008 was passed on October 3, 2008, your accounts were insured up to $100,000 for regular
shares and up to $250,000 for Individual Retirement Accounts (IRAs).
If you have more than one account in the credit union, your accounts are added together and are insured up to $250,000. There
are exceptions, however, such as Individual Retirement Accounts (IRAs). IRA's are insured up to $250,000 separately. For example,
if you have a regular share account and an IRA at the same credit union, the regular share account is insured up to $250,000 and
the IRA is separately insured up to $250,000. However, if you have a regular share account, a share certificate, and a share draft
account, all in your own name, you will not have additional coverage. Those accounts will be added together and insured up to
$250,000 as your individual account.
Joint Accounts are accounts owned by two or more people who have equal rights to withdraw money from the account. The
NCUSIF provides joint account holders with $250,000 coverage for their aggregate interests at each federally insured credit
union. For example, a two person joint account has $500,000 in coverage. This coverage is separate from and in addition to the
coverage available for other accounts such as individual accounts and IRAs.
As a member, you do not pay directly for your share insurance protection. The credit union pays into the National Credit
Union Share Insurance Fund (NCUSIF) an amount that is determined by the total value of insured shares in the credit union.
We encourage you to use the links above to learn more about the insurance coverage offered on your accounts and try the
e-Calculator which will compute the specific amount of insurance available to you.