Cds With Multiple Beneficiaries To Increase NCUA Or FDIC Coverage

hank | Apr 22, 2020 | 110 posts since 2016

I have a number of CDs that have PODs on them to increase insurance coverage I never worried about risks of these much before. e But now with this public health emergency, I am thinking about all the banks and credit unions that may be at risk of failing because of nonperforming loans to businesses and individuals. If any of these credit unions are taken over, will they have the correct information at the credit union to satisfy the NCUA requirements for additional coverage. This topic has been discussed on this site before and it seems there's no definite answer to feel totally comfortable that the additional coverage will be honored when the NCUA takes over

Post an answer

Answers

RJM_Willy12 | Apr 22, 2020 | 149 posts since 2016

People here can't agree if FDIC covers accrued interest.

Sure some people can give solid answers, but the most confident are often wrong.

If you want to know about NCUA insurance, go to the NCUA's site. Sounds like you already have done some research.

Here's a hint. Credit unions have failed in the past. Google to see if credit union customers have complained about being denied coverage, and if so, the alleged reason.

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.