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

of survivorship. How much insurance do the
husband and wife have
Answer: They have $500,000 of insurance. Both
the husband and wife are deemed to have a one
half interest ($125,000) in each account. The
husband’s interest in both accounts would be
added together and insured for $250,000. The
wife’s insurance coverage would be determined
the same way.
Example 4
Queson: The following accounts are held
by members A, B and C, each of whom has
personally executed signature cards for the
accounts in which they have an interest.
Each co-owner of a joint account possesses
the necessary withdrawal rights. What is the
insurance coverage
Answer: Accounts numbered 1, 2 and 3 are each
separately insured for $250,000 as individual
accounts held by A, B and C, respecvely. The
interests of the co-owners of each joint account
are deemed equal for insurance purposes.
A’s interest in accounts numbered 4, 5, and 7
are added together for insurance purposes.
Thus, A has an interest of $120,000 in account
No. 4, $120,000 in account No. 5 and $80,000 in
account No. 7, for a total joint account interest
of $320,000, of which $250,000 is insured. The
interests of B and C are each similarly insured.
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