Insured Funds

Deposits at CTCU are Federally insured up to $250,000 by NCUA. An Additional $250,000 is insured by ESI.

NCUA Share Insurance

The National Credit Union Share Insurance Fund (NCUSIF) is a U.S. Treasury revolving fund managed by the National Credit Union Administration (NCUA). Just as the Federal Deposit Insurance Corporation (FDIC) covers deposited funds at banks, NCUA covers deposited funds at credit unions. Of the nearly 10,000 credit unions in the U.S., more than 97 percent are covered by the NCUSIF, which is backed by the full faith and credit of the U.S. government.

Geographic Area. NCUSIF coverage is provided in all 50 states, Guam, Puerto Rico and the Virgin Islands. All federally chartered credit unions regardless of location must be insured by the NCUSIF. Only eight states and Puerto Rico allow state-chartered credit unions to carry private primary share insurance.

U.S. Government Backing. The NCUSIF, with more than $6 billion in equity, is financially strong and uniquely positioned to insure the money credit union members have placed in federally-insured credit unions. In addition to its $6 billion equity, the NCUSIF is backed by the full faith and credit of the U.S. government. There is simply no stronger backing in the world.

Cost of Coverage. Insured credit unions maintain a deposit equal to one percent of their insured shares and deposits in the NCUSIF. The NCUSIF has paid $622 million in dividends on these deposits since 1995 to NCUSIF-insured credit unions. It has not been necessary to charge a premium since 1992.

Supervision. Federal credit unions are subject to NCUA supervision. State-chartered credit unions with NCUSIF coverage are subject to state supervision, but are also monitored by NCUA. This regular examination and supervision process helps ensure the safety and soundness of federally insured credit unions.

Insurance Coverage. The basic insured amount for a credit union member is $250,000. Share accounts maintained in different rights or capacities, or forms of ownership, may each be separately insured up to $250,000 with properly completed account applications.


Beginning January 1, 2013, funds deposited in a noninterest bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited share insurance coverage by the National Credit Union Share Insurance Fund (NCUSIF). Beginning January 1, 2013, noninterest-bearing transaction accounts will be subject to the same insurance coverage levels as all other share accounts in a credit union (up to the standard maximum share insurance amount $250,000).

Additional information on share insurance may be found at

For more information: The NCUA brochure "Your Insured Funds" can help you determine the insurable amount. 

Additional Insurance from ESI

CTCU board of directors also has chosen to provide an additional $250,000 of savings coverage to qualifying accounts through ESI, a licensed property and casualty insurance company. This supplemental share insurance coverage from ESI has been available to credit unions since 1993. Members exceeding the maximum level of coverage provided by the NCUA are also insured up to an additional $250,000 by ESI. For example, if a member has a savings account, checking account and certificate of deposit at the credit union that when added together totals $340,000, $250,000 is insured by the NCUA with the remaining insured by ESI. Deposit insurance is provided on a dollar-for-dollar basis and is payable only upon the failure and liquidation of the credit union.

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