Not one penny of insured savings
has ever been lost by a member of a federally insured credit union.
As a member of BrightStar Credit Union, you do not pay directly
for your deposit insurance protection. BrightStar Credit
Union pays into the NCUSIF a deposit based on the total amount
of insured savings in the Credit Union.
Properly established deposit accounts in federally insured credit
unions are insured up to $100,000. Generally, if a credit union
member has more than one account in the same credit union, those
accounts are added together and insured up to $100,000. There
are exceptions, though. You may obtain additional insurance coverage
on multiple accounts, but only if you have different ownership
interests or rights in different types of accounts and you properly
complete account forms and applications. For example, if you have
a Savings account and an Individual IRA account at the same credit
union, each account is insured up to $100,000. However, if you
have a Savings account, Certificate account and Checking account,
all in your own name, you will not have additional coverage. Those
accounts will be added together and insured up to $100,000 as
your individual account.
For more information, including FAQs about NCUA's share insurance,
visit the NCUA web site.
Go
to NCUA.gov »
