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All savings accounts are insured to $100,000 by the National Credit Union Share Insurance Fund (NCUSIF), which is a part of the National Credit Union Administration NCUA). You can be assured that your money is safe at your credit union. Regular savings from $500 to $3,000 deposited before September 1, 2000 is insured with life insurance. Based upon the members age at deposit, 100 % benefits are paid up to age 55, 75% up to age 60, 50% benefit up to age 65, and 25% benefits up to age 70. Again the benefit is based upon the age of the member when the money was deposited, not the age of the member when benefits are paid. |
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