UCU is committed to you

 

We want to reassure you that we are financially strong and your deposits with us are safe, secure, and insured. Our member-owners are at the heart of every decision we make, and we remain committed to putting your safety, security, and needs above all else.

 

Please see our frequently asked questions below for additional details.

 

Is my money safe?

Yes, University Credit Union is a state-chartered credit union, which means the deposits at UCU are covered by the National Credit Union Share Insurance Fund (NCUSIF) protection. Not one penny of insured savings has ever been lost by a member of a federally insured credit union.

 

How do credit unions and banks differ?

Credit unions are not-for-profit and owned by their member-owners, serving their best interests. Credit unions are among the most well-capitalized financial institutions that ensure their equity reserves and liquid investments prioritize the safety and soundness their member-owners expect. Credit unions are not subject to pressure from investors and stockholders and only answer to their member-owners, unlike most banks.

 

Are my deposits insured?

University Credit Union share accounts are insured to at least $250,000 through the National Credit Union Administration (NCUA) in the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF is backed with the full faith and credit of the United States Government.

 

What types of accounts does the NCUA insure?

The NCUA insures all deposit accounts offered by UCU including, savings accounts, checking accounts, certificates, money market accounts, retirement accounts (IRAs), and trust accounts. Share accounts are insured to at least $250,000 and IRA accounts are insured separately to at least $250,000.

 

The NCUA does not insure losses on mutual funds, stocks, bonds, life insurance policies, annuities, and non-deposit investments.

 

How can I maximize my NCUA insurance coverage?

If you have more than $250,000 with UCU, there are options available to ensure these funds are covered with additional share coverage. The following accounts each offer an additional $250,000 coverage: retirement accounts (IRAs), joint accounts, trust accounts, revocable trusts, and irrevocable trusts.

 

You can determine your coverage by using the NCUA’s insurance estimator tool: https://mycreditunion.gov/insurance-estimator

 

Fully insured for your peace of mind


University Credit Union share deposits are federally insured through the National Credit Union Administration (NCUA) in the National Credit Union Share Insurance Fund (NCUSIF). The fund is backed with the full faith and credit of the United States Government. Share accounts in federally insured credit unions are insured to at least $250,000, IRAs are insured separately to $250,000.

 

Is my money safe in a credit union?

 

UCU is a state-chartered credit union, which means deposits are covered by National Credit Union Share Insurance Fund (NCUSIF) protection. Not one penny of insured savings has ever been lost by a member of a federally insured credit union. Watch the video below for more info on how the NCUA protects you.

 

Share insurance account ownership types

Single account? Joint account? Revocable Trust or Retirement account? It's all insured, to at least $250,000 by the NCUA and the full faith and credit of the United States government. Learn more in this video below.

 

 

What is insured by the NCUA?

+

Savings Accounts

+

Checking Accounts

+

Share Certificates

+

Money Market Accounts

+

Retirement Accounts (IRAs)

+

Trust Accounts

 

What is not insured by the NCUA?

x

Mutual Funds

x

Annuities

x

Non-Deposit Investments

 

Have questions about maximizing your insurance coverage?

Options are available for additional share insurance coverage depending on the account type. Contact us with any questions.

Share Insurance Estimator Tool

Federally insured credit unions offer a safe place for you to save your money, with deposits insured to at least $250,000 per individual depositor. Watch this guide video and use the NCUA's estimator tool to determine your coverage.

Try it now

Member Testimonial

"After my car was totaled a week ago I was extremely surprised to find I could get a new car for almost the same price. Now I have a new car almost 1 week after losing my old car and I couldn't be happier!"

- Shayla Y.