I apologize if this is a dumb question but... what is an "account" when it comes to NCUA and credit unions? If I have 2 share certificates for $250k each under a single credit union membership number, but one CD is POD and another CD is NOT POD, are they treated as separate accounts by NCUA because one is POD and one is not? Or are they treated to be under same credit union membership account (with 1 signature card) and thus the coverage is only $250k?
With banks, all accounts are individual and separate which makes it easy, but credit unions have this structure where your single "membership" account number but it can have multiple CDs with their own small note number or subaccount numbers, each with their own POD designations... so, I am confused...
If you happen to have some links explaining this, please mention them along with related quotes (NCUA documentation on their site just refers to term "account" but I did not find its definition or clear explanation of how it would apply to above situation).