Share Insurance Fund

A Share Insurance Fund protects members of credit unions against the loss of their deposits. Just as banks have deposit insurance (like FDIC), credit unions use these funds to ensure that if a credit union fails, members can recover their savings, usually up to a certain limit. This safety net helps build trust and stability in the credit union system, encouraging people to save and invest while knowing their money is protected. The fund is managed by agencies that follow strict regulations to safeguard members' interests.