Your share accounts (deposits) are insured

Most credit unions, including First Tech, pay into the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the U.S. government. Each individual account holder is insured up to $100,000 for standard share accounts (checking, savings, instant access, and certificate accounts) or up to $250,000 for retirement accounts.

Maximize your coverage
There are ways to maximize your insurance coverage. If you have a First Tech regular share account and an IRA, your share account is insured up to $100,000 and your IRA is separately insured up to $250,000. However, if you personally have a savings account, certificate account, and a checking account, all held in your name only, you are collectively insured up to $100,000.

You can maximize your coverage with a joint account. Joint checking, savings, and instant access accounts receive $100,000 of coverage for each individual accountholder. So, if both you and your spouse jointly own a checking account, your account is insured up to $200,000; $100,000 for each account holder. The joint account coverage is in addition to your individually held accounts and retirement accounts with the credit union. For more information please visit www.ncua.gov. If you have deposits at federally insured banks, they are most likely insured by the FDIC, which works essentially the same as the NCUSIF. You can visit www.fdic.gov for more information.

Resources

Frequently Asked Questions about The NCUSIF

Insurance estimator

NCUA’s “How your accounts are insured” brochure