No, members don’t have to pay or do anything to be covered by Sierra’s NCUA and excess share insurance. Qualifying amounts are automatically covered.
Do I have to opt in or purchase share insurance?
Is NCUA insurance per account, or per member?
NCUA deposit insurance covers up to $250,000 per member and ownership type. Individual accounts (savings, checking, money market) are covered for up to $250,000 per member Joint accounts (savings, checking, money market) are covered for up to $250,000 per owner – so an account with $500,000 and two joint owners would be fully insured by […]
What are the NCUA Deposit Insurance Ownership Types?
Sierra is federally insured by the NCUA, which means member deposits are insured for up to $250,000 per member per account ownership type. We also offer Excess Share Insurance, which covers an additional $250,000 on the same guidelines, bringing the total to $500,000 per member and ownership type. So what are the ownership types? This […]
How do I know how much deposit insurance I qualify for?
Deposits at Sierra Pacific are insured by the NCUA and Excess Share Insurance. The NCUA insures up to $250,000 per individual member, per ownership category. Excess Share Insurance covers up to $250,000 in excess of that. In total, your Sierra shares are insured for up to $500,000 per member, per ownership category. Check out these […]