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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.)
It may require security for the loan â this depends on the credit unionâs own rules. There are limits on the amount of any loan and the duration for the repayment of the loan. The maximum loan that is available to a member is â¬39,000 or 1.5% of the total assets of the individual credit union whichever is the greater.