NCUA Insurance Explained
Michigan Educational Credit Union is well capitalized by regulatory standards. We’ve earned BauerFinancial's top 5-Star rating for strength and stability for more than 30 consecutive years, earning us a "Best of Bauer" distinction. Additionally, your Credit Union shares are insured by the National Credit Union Administration (NCUA) up to $250,000. To learn more about NCUA coverage, please visit the NCUA’s website. To read a statement by NCUA Chairman, Todd M. Harper, please click here.
HOW DO I KNOW MY CREDIT UNION IS FEDERALLY INSURED?
Federally insured credit unions are required to indicate their insured status in their advertising and to display the official NCUSIF insurance sign in their offices and branches. For a complete directory of federally insured credit unions, visit the NCUA’s agency website at ncua.gov.
The standard share insurance amount is $250,000 per share owner, per insured credit union, for each account ownership category. The $250,000 standard share insurance account became permanent through the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
THE NCUA SHARE INSURANCE ESTIMATOR
The NCUA Electronic Share Insurance Estimator is available to help members better understand the protection offered by the NCUSIF. This interactive site allows users to input data to compute the amount of NCUSIF coverage available under different account scenarios.