SMCU is Federally Insured by the NCUA
- NCUA -- short for the National Credit Union Administration -- is an independent federal government agency that charters and supervises federal credit unions and insures accounts in federal and most state-chartered credit unions across the country through the National Credit Union Share Insurance Fund (NCUSIF).
- Congress established the Share Insurance Fund in 1970 to insure member's shares.
- The Share Insurance Fund is backed by the full faith and credit of the United States Government.
- The Share Insurance Fund provides essentially the same coverage as the Federal Deposit Insurance Corporation's (FDIC) account insurance.
- Not one penny of insured savings has ever been lost by a member of a federally insured credit union!
- Your money is insured up to $250,000.
How does the NCUA Work?
For more information about how NCUA insurance works, click the links below or watch this straightforward, informative video.