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

Example 3
Queson: A is Treasurer of X County and collects
certain tax assessments, a poron of which must
be paid to the state under statutory requirement.
A maintains an account for general funds which
belong to the state treasurer. The credit union’s
records indicate that the separate account
contains funds held for the state. What is the
insurance coverage
Answer: Because two public units own the funds
held by A, the account would each be separately
insured to $250,000.
Example 4
Queson: A city treasurer invests city funds in
each of the following accounts: “General Operang
Account,” “School Transportaon Fund,”
“Local Maintenance Fund,” and “Payroll Fund.”
Each account is available to the custodian upon
demand. By administrave direcon, the city
treasurer has allocated the funds for the use of
and control by separate departments of the city.
What is the insurance coverage
Answer: All of the accounts are added together
and insured in the aggregate to $250,000. Because
the allocaon of the city’s funds is not by statute
or ordinance for the specific use of and control
by separate departments of the city, separate
insurance coverage to $250,000 is not afforded to
each account.
Example 5
Queson: A county treasurer establishes the
following share dra accounts in an insured credit
union each with $250,000:
50