NCUA vs. FDIC

NCUA

• The NCUA is the National Credit Union Administration, a US Government Agency, that federally insures credit union member deposits to at least $250,000.
• NCUA insures accounts in credit unions through the National Credit Union Share Insurance Fund (Share Insurance Fund)
• Congress established the Share Insurance Fund in 1970 to insure member's shares
• The Share Insurance Fund is backed by the full faith and credit of the United States Government
• The Share Insurance Fund provides essentially the same coverage as the Federal Deposit Insurance Corporation's (FDIC) account insurance
• Not one penny of insured savings has even been lost by a member of a federally insured credit union
• Access the NCUA on the web
• Contact NCUA by phone at 1-800-755-1030

FDIC

• The FDIC is the Federal Deposit Insurance Corporation, a US Government Agency, that federally insures bank and thrift institution deposits to at least $250,000.
• The FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s.
• Not one cent of insured funds has been lost by a customer.
• The FDIC is funded by premiums that banks and thrift institutions pay for deposit insurance coverage and from earning on investments in U.S. Treasury securities
• Access the FDIC on the web for more information and details.
• Contact the FDIC by phone at 1-877-ASK FDIC (275-3342)