share insurance

Share insurance refers to a protective measure for members of credit unions, similar to how bank deposits are insured. It ensures that your savings in a credit union are protected up to a certain limit in the event the credit union fails. In the United States, this protection is often provided by the National Credit Union Administration (NCUA). This insurance helps safeguard members’ funds, instilling confidence in the security of their savings and promoting stability within the credit union system. Essentially, it provides peace of mind that your money is safe, even in uncertain circumstances.