Your deposits are protected up to $250,000
At Oregon State Credit Union, our members’ deposits are insured by the National Credit Union Share Insurance Fund (NCUSIF) for up to $250,000 per individual depositor, per account type.
No member has ever lost a penny from accounts insured by NCUSIF. An account with one account holder is covered for up to $250,000. A two-person joint account is covered for up to $500,000.
Coverage is provided for personal, business (including non-profits), revocable and living trust accounts, and government accounts.
Insured accounts include checking and savings accounts, money market accounts, certificates and Individual Retirement Accounts (IRAs). It does not cover mutual funds, stocks, bonds, life insurance policies, annuities or municipal securities.
You can explore your share insurance coverage at the Share Insurance Estimator webpage. Using this calculator, you can determine if any portion of your credit union deposits exceed coverage limits.
If you have an account that exceeds the $250,000 coverage limit, there are a ways to increase your insurance coverage. You can:
- Add a joint account holder. Each account holder is insured up to $250,000.
- Open an account in a different ownership category. Credit union ownership categories are: single accounts, joint accounts, certain retirement accounts, revocable trust accounts1, irrevocable trust accounts2 and employee benefit plans.
If you are concerned that your deposits may exceed the coverage amounts, drop by your local branch and we will help you make a plan for protecting your deposits.
1 For revocable trust accounts, each trustor must be a member for their portion to be federally insured.
2 For irrevocable trust accounts, each trustor must be a member in their own right or all beneficiaries must be members of the credit union.
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