How are credit unions insured?

Answer Bank deposits are insured by the Federal Deposit Insurance Corporation (FDIC) to protect investors in case of bank failure, but credit unions are not covered by this organization. Credit unions are... Read More »

Top Q&A For: How are credit unions insured

Are credit unions federally insured?

The National Credit Union Administration (NCUA) is the federal organization that insures the deposits of credit union members. NCUA administers the National Credit Union Share Insurance Fund (NCUSI... Read More »

Are credit unions FDIC insured?

The Federal Deposit Insurance Corporation (FDIC) does not insure credit unions. The National Credit Union Administration (NCUA), however, does provide insurance coverage for credit union accounts.F... Read More »

What Is the Difference Between Regular Credit Unions & Federally Backed Credit Unions?

Credit unions are chartered by either state governments or the federal government. When people refer to a "regular" credit union, it is generally a state-chartered institution and does not have the... Read More »

How do credit unions work?

Credit unions provide an alternative to other banking and lending institutions. According to the Credit Union National Association, there are more than 8,000 credit unions in the United States.Sign... Read More »