NCUA insurance fund

The NCUA Insurance Fund, managed by the National Credit Union Administration, protects members' savings in federally insured credit unions. Similar to FDIC insurance for banks, it guarantees that deposits up to $250,000 per member are safe in case a credit union fails. Funded by credit union fees, the insurance ensures financial stability and consumer confidence, enabling members to keep their money secure. If a credit union faces financial difficulties, the NCUA steps in to help protect members' funds, allowing them to recover their insured deposits.