Sign up to the What Hi-Fi? newsletter now to receive our latest news, reviews and offers straight to your inbox!
This provides deposit insurance for credit unions in much the same way as the FDIC provides insurance for banks. Look for the NCUA logo at your credit union's teller stations. The standard maximum limit is $250,000 per individual account holder, per federally insured credit union. (To check on whether your credit union accounts are fully covered, use NCUSIF's coverage estimator at http://webapps.ncua.gov/ins.)
Previously (since 2002), the insured amount was 90% of deposits up to EUR 25,000; in 2008 it was increased to 100% of deposits up to EUR 50,000. Effective 2011, the limit was increased to EUR 100,000. Credit unions covered since 2006.