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January 17, 2012 | credit-union-advocacy

What is NCUA Insurance?


What is NCUA Insurance?

The National Credit Union Administration is the independent federal agency that supervises and regulates credit unions across the country. They operate and manage the NCUSIF (National Credit Union Share Insurance Fund), which is backed by the full faith and credit of the United States Government.

Amplify Credit Union is federally insured by the NCUA, and therefore your deposits are insured at least up to $250,000. However, if you have retirement accounts or joint accounts, your account may be insured for more. For example, your non-IRA deposits are cumulatively insured for up to $250,000, and IRA deposits are separately insured for up to $250,000. That's up to $500,000 in guaranteed coverage if your regular deposit and your IRA accounts are with Amplify.

If you have multiple accounts with Amplify and are concerned about whether or not your entire account is insured, check out the NCUA’s Share Insurance Estimator.

For more information, or if you have any questions about share insurance coverage, stop by any Amplify Branch or call us at 512-836-5901.