As a trusted financial institution with members throughout Southern California, we want our members to rest assured knowing that their deposits are safe, secure and backed by the NCUA. It’s important for us to educate our members and the community on which types of deposits are insured and which are not. 

While investing your money in stock options or crypto assets can accrue a generous return, the risk of losing money on those investments is high because they are not backed by federal agencies such as the NCUA (National Credit Union Administration) or the FDIC (Federal Deposit Insurance Corporation). If you want to guarantee that your money is safe and secure, the best route is to opt for insured investment options from a trusted financial institution like SDCCU. 

Below you will find some commonly asked questions about the NCUA and how your money is insured when you place your deposits in a federally insured financial institution.  
 

What is The NCUA?

The National Credit Union Administration (NCUA) is an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions and charters, and regulates federal credit unions. The NCUA also operates and manages the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF insures the accounts of millions of account holders in all federal credit unions. 
 

How Much of My Deposit is Insured? 

Deposits are insured by the NCUA up to $250,000 per share owner, per insured credit union, for each account ownership category. In some instances, your account may offer even more coverage. For example, a two-person joint account with no beneficiaries has up to $500,000 in coverage. 
 

What Type of Accounts are Insured? 

The accounts that are federally insured by the NCUA include regular savings shares, share drafts (similar to a checking account), money market accounts and share certificates. 
 

Are All Deposits Insured? 

At financial institutions backed by the NCUA or FDIC, deposit accounts are insured. However, products such as crypto assets, bond investments, mutual funds and stock investments are not insured, subject to market volatility and may lose value. 
 

What is the Difference between the FDIC and the NCUA?

Both are federal agencies that insure your deposits. The Federal Deposit Insurance Corporation (FDIC) is specific to banks and the National Credit Union Administration (NCUA) is specific to credit unions. 

When you bank with a federally insured credit union, your money is guaranteed to remain safe and secure through economic changes and market fluctuations. SDCCU is proud to be backed by the NCUA so our members can rest assured knowing that their deposits are protected. If you would like to find out more information about how your deposits are insured by the NCUA, please visit www.ncua.gov.