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NCUA Releases Updated Insurance Brochure

ALEXANDRIA, Va. - NCUA is getting the word out to credit unions that it has updated the Your Insured Funds brochure. The Federal Deposit Insurance Reform Act and conforming amendments changed deposit insurance coverage levels. Certain retirement accounts, including Individual Retirement Accounts and Keoghs, now have federal deposit insurance coverage...

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ALEXANDRIA, Va. – NCUA is getting the word out to credit unions that it has updated the Your Insured Funds brochure. The Federal Deposit Insurance Reform Act and conforming amendments changed deposit insurance coverage levels. Certain retirement accounts, including Individual Retirement Accounts and Keoghs, now have federal deposit insurance coverage up to $250,000. Additionally, the law permits the FDIC and NCUA to set a Standard Maximum Share Insurance Amount beginning in 2011, which the updated brochure explains. Due to high demand hard copies will not be available for four weeks.

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