How does NCUSIF pay members their shares when an insured credit union is liquidated?
Checks for each member””s shares (less any amounts due on outstanding loans) up to the insurance limit are mailed to the member””s last known address as shown in the records of the credit union. These checks are usually mailed several days after the credit union is placed into liquidation. In situations where on-site payment is more convenient, the NCUA liquidation team will give checks directly to members.
