"Your Insured Funds" NCUA brochure - North Island Credit Union

FREQUENTLY ASKED QUESTIONS
ABOUT THE NATIONAL CREDIT
UNION SHARE INSURANCE FUND
1. Which credit unions are insured by the NCUSIF
The NCUSIF insures member shares in all federal
credit unions and those federally insured, statechartered
credit unions that apply for and meet
the insurance standards. Insured credit unions are
required to indicate their insured status in their
adversing and to display the official NCUSIF sign
at their offices and branches.
Some state-chartered credit unions may be
insured by private insurance or guaranty corporaons.
This coverage is separate and apart from
the NCUSIF and is not backed by the full faith
and credit of the U.S. Government.
2. How does the NCUSIF protect credit union
members against loss
Each credit union approved for NCUSIF coverage
must meet high standards of safety and soundness
in its operaons. Federal and state examiners,
as appropriate, conduct regular examinaons to
determine whether federally insured credit unions
are following these standards. If an insured credit
union gets into financial difficules and must be
closed, the NCUSIF acts immediately to protect
each member’s share accounts.
3. Does the NCUSIF protecon apply only if a
credit union is liquidated
No. Liquidaon is the only situaon in which a
member is directly provided share insurance
protecon by the payment of a check for his or
her insured savings. However, indirect protecon
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