ALEXANDRIA, Va. — Federally insured credit unions had to have their insurance signage at locations where "it normally receives funds or opens accounts" updated as of May 22.

The NCUA Board approved the updated signage at its November Board meeting. The insurance sign was updated to reflect the change in coverage under the Federal Deposit Insurance Reform Act, which raised certain retirement account coverage to $250,000 as of April 1, 2006 and maintained the $100,000 coverage on other accounts, but allowed for indexing by the NCUA and FDIC in five-year increments.

The language on the new sign reads, in part: "Your savings federally insured to at least $100,000 and backed by the full faith and credit of the United States Government." It is due to be posted at teller windows and on the Internet and other places where the credit union receives funds or opens accounts. The new sign will be required on all materials using the NCUA insurance logo within a year of the publication of the regulation in the Federal Register.