Newsroom

November 30, 2015

NCUA videos detail share insurance protection

NCUA on Monday put out three new videos detailing for consumers how federally insured credit union accounts are protected through the National Credit Union Share Insurance Fund.

The videos were produced through NCUA's Consumer Report series by the Office of Consumer Protection. The videos offer an overview of the coverage, how to use the agency's Share Insurance Estimator and different account ownership types.

"Federally insured credit unions are a very safe place to save," said NCUA Chairman Debbie Matz. "No member of a federally insured credit union has ever lost a penny of shares insured by NCUA. I urge credit unions to make their members aware of these videos or to download them and share them on their own websites."

NCUA also noted its new Share Insurance Toolkit for Consumers through its MyCreditUnion.gov site, which offers resources including the Share Insurance Estimator – an interactive site through which credit unions can estimate the amount of NCUSIF coverage available for different accounts.