NCUA

Banking & Credit

The National Credit Union Administration (NCUA) is the federal regulator and insurer of credit unions, the counterpart to FDIC for banks. The National Credit Union Share Insurance Fund (NCUSIF) insures deposits at federally insured credit unions up to $250,000 per share owner per ownership category — identical protection to FDIC. State-chartered credit unions are insured by the NCUA or state-equivalents. Credit unions often offer higher savings rates, lower loan rates, and better customer service than for-profit banks because they're owned by members rather than shareholders. Combining bank and credit union accounts can double your insured limits.