NCUA: $250,000 Insurance Protection Extended to 2013The 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: http://www.ncua.gov/Resources/ShareInsuranceToolkit.aspx.