NCUA Deposit Insurance


Below are some facts about the deposit insurance provided to Financial Plus Credit Union members:

  • Each Financial Plus 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 non-IRA deposit accounts for a primary account holder: ie. savings, checking, money market deposit accounts, club, and certificates.
  • Retirement account protection is separate and apart from insurance coverage on other credit union accounts, providing you with additional protection. IRA accounts are insured separately from share accounts 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.

For example, if you have a regular share account and an IRA at Financial Plus Credit Union, the NCUSIF insures the regular share account for up to $250,000 and the IRA for up to an additional $250,000.

The NCUA has also created an Insurance Call Center, which is staffed from 8:00 a.m. to 6:30 p.m. (EDT) Monday through Friday and has insurance experts available to answer questions about the coverage provided by NCUA share insurance. The toll-free Insurance Call Center number is (800) 755-1030, extension 1.