An Introduction to Deposit Insurance and the NCUSIF
The National Credit Union Administration (NCUA) is an independent
agency of the United States Government. The shares in the Lisbon
Community Federal Credit Union are insured by the National
Credit Union Share Insurance Fund (NCUSIF), an arm of NCUA.
Your
share insurance is similar to deposit insurance provided by
the Federal Deposit Insurance Corporation (FDIC). Share accounts
in federally insured credit unions are insured up to $250,000,
an amount equal to the insurance protection offered by the FDIC.
Individual Retirement Accounts (IRAs) are insured up to $250,000,
an amount equal to the insurance protection offered by the
FDIC. Generally, if a credit union member has more than one
account in the same
insured
credit
union,
those
accounts
are
added together
and are insured up to $250,000. If you would like more detailed
information please visit the National
Credit Union Administration web site.
Here are some important facts to remember about your share insurance: