How does NCUSIF share insurance protect credit union members against loss?
Each credit union approved for NCUSIF share insurance must meet high standards of safety and soundness in its operation. Adherence to these standards is determined regularly through credit union examinations by federal and state examiners. If an insured credit union gets into financial difficulties and must be closed, the NCUSIF acts immediately to protect each member’s share account.
Related Questions
- Is the National Credit Union Share Insurance Fund (NCUSIF) similar to the FDIC, which covers banks and savings and loan institutions? How strong is it?
- Does NCUSIF share insurance protection apply only if a credit union is liquidated?
- How does NCUSIF share insurance protect credit union members against loss?
