NCUA: $250,000 Insurance Protection Extended to 2013

The National Credit Union Share Insurance provided by the National Credit Union Share Insurance Fund has been extended through a provision in the Helping Families Save Their Homes Act of 2009. The provision extends $250,000 share insurance coverage provided by the National Credit Union Share Insurance Fund through December 31, 2013.

Earlier, this level of coverage was set to expire December 31, 2009. The new law also requires the National Credit Union Administration (NCUA) to use the higher $250,000 standard maximum share insurance amount when making decisions about premiums and administering insurance deposit adjustments.

NCUA says it will be updating its guidance about share insurance coverage to address the provisions of the new law. Current information about NCUA insurance coverage can be accessed here:

About the Author

Linda McGlasson

Linda McGlasson

Managing Editor

Linda McGlasson is a seasoned writer and editor with 20 years of experience in writing for corporations, business publications and newspapers. She has worked in the Financial Services industry for more than 12 years. Most recently Linda headed information security awareness and training and the Computer Incident Response Team for Securities Industry Automation Corporation (SIAC), a subsidiary of the NYSE Group (NYX). As part of her role she developed infosec policy, developed new awareness testing and led the company's incident response team. In the last two years she's been involved with the Financial Services Information Sharing Analysis Center (FS-ISAC), editing its quarterly member newsletter and identifying speakers for member meetings.

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