Deposit Insurance

Member accounts are insured by the National Credit Union Share Insurance Fund (NCUSIF) for up to $100,000. The share insurance at TFCU is similar to deposit insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Federal Savings and Loan Insurance Corporation (FSLIC). Share accounts in federally insured credit unions are insured up to $100,000, an amount equal to the insurance protection offered by the FDIC and FSLIC. 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 $100,000. There are exceptions, however. If a member has a regular share account and an Individual Retirement Account in the same credit union, each account is insured up to $100,000. The NCUA Insurance booklet gives a more detailed explanation of insurance coverage.