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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.)
1 Savings up to a limit of â¬12,697 per member are protected by the Savings Protection Scheme in all credit unions participating in the Scheme. 2  Members savings within certain limits are insured through Life Savings Insurance. Members present accounts with Credit Union are considered as a Regular Share Account. 2  These accounts are suitable for those who are not liable for income tax. 3  The onus is on the member to declare their account to the Revenue Commissioners. 4  Dividend rate declared at A.G.M. is posted gross to members accounts.