Definitions for "National Credit Union Share Insurance Fund"
Keywords:  ncusif, ncua, fdic, union, charters
Similar to FDIC insurance, but for credit union deposits.
The shares in your credit union are insured by the National Credit Union Share Insurance Fund (NCUSIF), an arm of NCUA. Established by Congress in 1970 to insure member share accounts at federally insured credit unions, the NCUSIF is managed by NCUA under the direction of the three-person NCUA Board. Your share insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC). The NCUA Share Insurance Estimator is an educational resource about share insurance and gives a detailed explanation of insurance coverage.
The federal share insurance fund for credit unions. The fund protects credit union members' shares (up to $100,000) in federal and federally insured, state-chartered credit unions. NCUSIF is backed by the full faith and credit of the United States.