Credit Union NCUA Insurance

txFish1 | Apr 21, 2023 | 476 posts since 2023

I have a joint account at my favorite local CU and am maxed out on joint NCUA insurance. My contact at the credit union told me I can open a single account and be covered for another $250k on top of the 500k for my joint account. I knew IRAS had extra coverage but did not realize non IRA money could get extra coverage. Could not get through to the NCUA 800# as it was after hours. The credit union is matching a really good 5 year rate for me so I want to take advantage of it. Any DA readers have any direct knowledge about this?

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MAKNYC | Apr 21, 2023 | 323 posts since 2015

Sounds correct to me, and is the equivalent of FDIC insurance rules.

https://ncua.gov/files/publications/guides-manuals/NCUAHowYourAcctInsured.pdf

txFish1 | Apr 22, 2023 | 476 posts since 2023

Thanks for the link MAKNYC they have an insurance estimator on that page and you can put in the exact dollar amounts into the different account categories and it shows what is covered

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