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NCUSIF InsuranceThe Benefits of Federal Share Insurance
NCUSIF
National Credit Union Share Insurance Fund
Here are examples for ways you can structure accounts to increase coverage:
Husband and Wife
| $2,000,000 | Individual Account of Husband
| $250,000 | Individual Account of Wife
| $250,000 | Joint Tenancy with right of survivorship:
| | Husband and Wife
| $500,000 | Revocable Trust Accounts:
| | Husband as Trustee for Wife
| $250,000 | Wife as Trustee for Husband
| $250,000 | Individual Retirement Accounts:
| | Husband
| $250,000 | Wife
| $250,000 | Grandparent and Two Grandchildren
| $2,250,000 | Individual Accounts:
| | Grandparent
| $250,000
| Grandchild #1
| $250,000 | Grandchild #2
| $250,000 | Joint Tenancy with right of survivorship:
| | Grandparent & Granchild #1
| $250,000 | Grandparent & Grandchild #2
| $250,000 | Grandchild #1 & Grandchild #2
| $250,000 | Revocable Trust Accounts:
| | Grandchild #1 with Trustee Grandparent
| $250,000 | Grandchild #2 with Trustee Grandparent
| $250,000 | Individual Retirement Accounts:
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| Grandparent
| $250,000 |
Individual Retirement Accounts, Keough and Deferred Compensation Accounts are insured separately up to $250,000 from other accounts that a member maintains at the same credit union. The Emergency Economic Stabilization Act of 2008 increased the insurance coverage on all accounts up to $250,000. Enactment of the Dodd-Frank Reform and Consumer Protection Act (Dodd-Frank Act) on July 21, 2010, made the $250,000 standard maximum share insurance amount (SMSIA) permanent as of September 2, 2010.
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