Federally Insured Savings Protection
Your NWFCU deposit accounts are federally insured up to an aggregate of $250,000, and your NWFCU IRA accounts are insured separately up to an additional aggregate of $250,000 by the National Credit Union Administration (NCUA).
The NCUA is a U.S. Government agency managed by a Board of Directors that also oversees the National Credit Union Share Insurance Fund (NCUSIF), through which share insurance protection is provided. NCUSIF share insurance protection is similar to deposit insurance provided by the Federal Deposit Insurance Corporation (FDIC), protecting credit union members if an insured credit union experiences financial trouble due to insolvency or bankruptcy. As a member of NWFCU—an insured credit union— you do not pay directly for share insurance protection.
Visit the NCUA website to learn more about this important protection. You can also access NCUA's online share insurance protection calculator to evaluate the coverage on your NWFCU deposit accounts, including single, joint, simple trust accounts and IRA/Keogh retirement accounts.
For more information on how to maximize your coverage, click here.
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