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 NCUA coverage.
- Trust Accounts – Up to $250,000 per beneficiary for each owner
- Retirement Accounts – Roth or Traditional IRA – Up to $250,000 total. Beneficiaries do not change the coverage amount.
Categories: Checking, Deposit Insurance, Safety and Soundness