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

22. Are accounts held by a person as executor,
administrator, guardian, custodian, or in some
other similar fiduciary capacity insured
separately from his individual account
Yes. If the records of the credit union indicate that
the person is deposing the funds in a fiduciary
capacity, such funds would be separately insured
from the fiduciary’s individually owned account.
23. When an account is designated as held by a
person as agent for the owner of the funds,
how is the account insured
The account is insured as an account of the
principal or true owner. The funds in the account
are added to any other individual account owned
by the owner and the total is then insured up
to $250,000.
24. Is an account held by a corporaon,
partnership, or unincorporated associaon
insured separately from the individual accounts
of the stockholders, partners, or members
Yes. If the corporaon, partnership, or unincorporated
associaon has obtained membership in
the credit union and is engaged in an independent
acvity, its account is separately insured
to $250,000. The term “independent acvity”
means an acvity other than one directed solely
at increasing share insurance coverage.
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