NCUSIF

When you make deposits at GTE Financial, your money is protected by the National Credit Union Share Insurance Fund (NCUSIF), administered by the National Credit Union Administration (NCUA). The NCUSIF provides deposit insurance to protect money deposited by credit union members. The NCUSIF is funded completely by credit unions that participate in the program. Taxpayer dollars have never been used to bail out a credit union.

What is the NCUSIF?

The NCUSIF is an arm of the National Credit Union Administration (NCUA), an independent agency of the United States government, which regulates charters and insures the nation’s federal credit unions.

What Does the NCUSIF Insure?

Your share insurance is similar to deposit insurance provided by the Federal Deposit Insurance Corporation (FDIC). All types of member share accounts and deposits received by the credit union in its usual course of business including regular and special shares, share drafts, money markets, share certificates and IRAs are insured*.

 

Calculate your Share Insurance!

*Share accounts are insured up to $250,000. Generally, if you have more than one account at the credit union, those accounts are added together and insured up to $250,000. Individual Retirement Accounts are insured separately for up to an additional $250,000. (Investment products such as mutual funds, annuities and other non-deposit investments are not insured by the NCUSIF).