Are Credit Unions Safe? NCUA Insurance Explained
3 min read
Deposits at federally insured credit unions are among the safest places to keep your money. The protection comes from the NCUA — the credit union equivalent of the FDIC.
What the NCUA covers
The National Credit Union Administration (NCUA) is an independent federal agency that insures deposits at federally insured credit unions through the National Credit Union Share Insurance Fund, backed by the full faith and credit of the United States.
Coverage is up to $250,000 per member, per credit union, per ownership category — the same structure and limit as FDIC insurance at banks. Different account types (individual, joint, retirement) can each be separately insured.
How to confirm a credit union is insured
Look for the NCUA insurance signage and the phrase “Federally insured by NCUA.” Every credit union profile on FindMyCU also shows NCUA-reported data, including charter details and financial-health metrics.
What financial-health metrics tell you
Beyond insurance, you can gauge a credit union's stability from public NCUA call-report figures such as its net-worth ratio (7% or higher is considered well-capitalized). We surface these on each profile so you can join with confidence.