February 04, 2014

NCUA updates share insurance booklet

NCUA on Monday released a revised version of its booklet Your Insured Funds, which the agency says presents the latest share insurance coverage information in a new, easy-to-read format helpful to credit unions as well as their members.

The updated booklet, 61 pages long, explains how credit union members' accounts are covered by the National Credit Union Share Insurance Fund. NCUA also publishes a briefer, six-panel brochure, How Your Accounts are Federally Insured, which gives the highlights of account coverage.

Both can be downloaded online or ordered via the mail or telephone (see the agency's announcement for full details). NCUA also provides an online share insurance estimator via its consumer site.

"Using the information in this updated booklet, consumers will be able to make better decisions about their money and learn more about how their checking, share, trust and retirement accounts are insured," NCUA Consumer Protection Director Gail Laster said.