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

28. What happens to insured funds that are not
claimed by the member at a liquidaon payout
At the end of the 18-month insurance period,
unclaimed funds are no longer insured, and share
account balances are paid based on liquidaon
and other recoveries. The funds are generally
held by NCUA and are available as long as the
records of the credit union are available or unl
the charter or insurance cerficate is canceled. In
some cases funds may be transferred to a state’s
unclaimed property secon for a period of me.
29. Where does a credit union member go for
informaon about his credit union or specific
quesons about NCUSIF coverage
The member should first contact the credit
union for the needed informaon. Credit union
personnel, however, cannot require the NCUSIF
to provide more protecon than is allowed under
the Federal Credit Union Act or NCUA Rules
and Regulaons. They will be able to obtain
informaon for you from NCUA. If the credit union
cannot provide the informaon or is no longer
in operaon, the member should contact the
Office of Consumer Protecon directly. Contact
informaon for the Office of Consumer Protecon
is available on the back cover of this booklet.
30. What effect does the death of a member have
on NCUSIF coverage
The death of a member will not affect the member’s
share insurance coverage for a period of
six months following death unless the member’s
share accounts are restructured in that me
period. If the accounts are restructured during the
six-month grace period or upon the expiraon of
the six months if not restructured, the share
19