How deposits are insured at Numerica
Numerica deposits are protected by the National Credit Union Administration (NCUA) up to $250,000 per member, per account type.
Worried about what happens to your money if something happens to your credit union? Don’t be. As a Numerica member, your deposits are automatically insured through the NCUA. Here’s how it works.
What is the NCUA?
The NCUA is an independent federal agency that insures deposits at federally insured credit. This coverage is provided to you when you become a Numerica member.
This protection comes from the National Credit Union Share Insurance Fund, backed by the U.S. government.
No one has lost a single penny of insured deposits at a federally insured credit union.
What is covered by the NCUA?
The NCUA insures individual deposit accounts, including:
If you own a joint deposit account with one or more people and have no beneficiaries, the NCUA also insures each account holder up to $250,000. For example, a 2-person joint account with no beneficiaries has up to $500,000 in coverage.
Other examples of how NCUA coverage works
- Alex has checking and savings with a total of $200,000. That’s fully protected because it’s under the $250,000 limit.
- Sam has $200,000 in savings and a $100,000 IRA. That’s $300,000 total, but all insured because retirement accounts are a separate bucket.
- Taylor and Jordan share a joint account with $400,000. Each person is covered up to $250,000, so the whole amount is protected.
Helpful resources:
What is not covered by the NCUA?
The accounts or products not insured by the NCUA include:
- Stocks, bonds, and mutual funds
- Annuities and insurance products
- Contents of safe deposit boxes
We will always tell you if an account or product is not covered by the NCUA.
What is the FDIC?
The NCUA insures credit unions. The FDIC insures banks. Both protect deposits up to the same $250,000 limit.
While these two agencies do the same things, the federal institutions they protect are different. Credit unions are not-for-profit cooperatives and owned by their members. Banks are for-profit and owned by stockholders.
Ways to increase your NCUA coverage
It is possible to qualify for more than $250,000 in coverage at one credit union. Here’s how:
- Use different ownership categories, like single, joint, and retirement. Each category has its own $250,000 bucket, so spreading deposits can raise your total coverage.
- Add beneficiaries on a revocable trust account. Each named beneficiary adds another $250,000 in coverage for that trust account.
- Separate business deposits from personal deposits. Business accounts are insured separately from personal accounts, so coverage doubles if you keep them apart.
Test scenarios in the Share Insurance Estimator before moving money. The tool shows how ownership categories and beneficiaries affect your coverage.
Related reading
Reviewed September 2025
Written by the Numerica Member Services Team
