How Much Extra NCUA Insurance For Living Trust?

  |     |   1,090 posts since 2010

I'm having a living trust made now. The idea is it will be used as the beneificary on accounts from now on.

When I list a living trust as the beneficiary, does that count as one beneficiary for purposes of NCUA insurance, or is the extra coverage determined by how many beneficiaries in the trust?

In other words, if I list the trust as beneficiary, and it has, say, 10 beneficiaries in it, different beneficiaries getting different amounts, would that get me the amount of NCUA coverage as if I had listed 10 separate beneficiaries -- which would be the maximum NCUA coverage? (Not that I need the maximum, I'm just trying to figure out how it is done.)

I went to NCUA to find out, but using their calculator, they won't even allow me to list living trust, they want me to list each and every beneficiary in the trust. But surely I don't list 10 beneficiaries on a CD at a CU, I would list only one trust. In fact, I know I've seen some places that limit how many beneficiaries they will let you list.

I e-mailed the question to the NCUA Consumer Assistance Center, and they gave a non-response that they assist consumers only with disputes with credit unions, so they were of no help to this consumer.

  |     |   684 posts since 2015
If you wish to learn about NCUA deposit insurance, I suggest you read "Your Insured Funds", published by the NCUA (or any number of other NCUA publications), _before_  you formulate questions.

"Your Insured Funds" can be found at

The section "Revocable Trust Accounts" begins near the bottom of p. 33.

I believe that publication answers your questions.

However, if after learning about deposit insurance, you still have questions, you should be in a position to formulate those questions in a knowledgeable, concise, and precise manner. You can then call the NCUA and discuss any questions with a knowledgeable specialist.

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