No, credit unions aren’t FDIC insured; federally insured credit unions carry NCUA share insurance, usually up to $250,000 per owner, per category.
If you’re scanning a website footer or a lobby sign and you spot “FDIC,” it’s easy to wonder if a credit union can be covered by the same program as a bank. The short version is simple: banks and credit unions use different federal insurers. That doesn’t mean one is “safer.” It means the label you should hunt for is different.
This guide shows how deposit insurance works at credit unions, how to confirm your coverage in two minutes, and where people get tripped up with joint accounts, trusts, and fintech apps.
Are Any Credit Unions FDIC Insured? What The Label Means
In the U.S., the FDIC deposit insurance program applies to FDIC-insured banks. Credit unions aren’t banks, so they don’t fall under FDIC insurance. Federally insured credit unions are covered by the National Credit Union Administration (NCUA) through the National Credit Union Share Insurance Fund (NCUSIF).
So if your question is “are any credit unions fdic insured?”, the clean answer is no. The equivalent federal backstop for credit unions is NCUA share insurance, not FDIC.
Quick Map Of Where Insurance Comes From
Most people only need one check: is the credit union federally insured? If yes, your deposit accounts get NCUA coverage. If not, the credit union may use a private insurer under state rules, and the coverage terms can differ by state and provider.
| Where Your Money Sits | Insurance Backstop | What To Check |
|---|---|---|
| Federally insured credit union | NCUA / NCUSIF | NCUA logo, “Federally insured by NCUA,” or NCUA locator listing |
| State-chartered, privately insured credit union | Private share insurer (varies) | Name of insurer, coverage limits, state regulator info, written disclosure |
| FDIC-insured bank | FDIC | FDIC logo, FDIC BankFind listing, bank charter name |
| Fintech “cash account” with partner bank sweep | FDIC (through partner bank) | Which partner bank holds funds, pass-through eligibility, your name on records |
| Brokerage cash held in a bank program | FDIC (through program banks) | Program bank list, per-bank limits, how cash is allocated |
| Brokerage cash held as securities | SIPC (not deposit insurance) | Account type, SIPC coverage scope, what’s excluded |
| Crypto platform “earn” or wallet balance | Often none | Exact legal structure, whether a bank holds deposits, terms on loss and custody |
| Prepaid debit card balance | Varies | Issuer bank name, FDIC pass-through wording, registration of your identity |
“Insured” depends on the charter and where the funds sit. A credit union can be safe and federally insured, yet it still won’t be FDIC because FDIC is tied to banks.
NCUA Insurance Basics In Plain Words
NCUA share insurance is automatic when you join a federally insured credit union. The standard limit is usually $250,000 per owner, per insured credit union, per ownership category. Categories matter. A single account and a joint account aren’t grouped the same way, and retirement accounts can have their own bucket.
If you want the official wording and the current limits, the NCUA lays it out on its Share Insurance Coverage page.
What Counts As A “Deposit” At A Credit Union
Credit unions use “share” language. Your checking, savings, and share certificates are generally share deposits. NCUA coverage applies to eligible share deposits plus posted dividends through the date of a failure.
Things that usually are not covered by share insurance include stocks, bonds, mutual funds, annuities, and other non-deposit investments, even if you buy them through a credit union. Safe deposit box contents aren’t part of deposit insurance either.
Why People Mix Up FDIC And NCUA
Both programs are federal, both protect depositors up to similar limits, and both use familiar lobby signage. The difference is the institution type. Banks use FDIC. Credit unions use NCUA.
There’s another reason for the mix-up: many ads and blog posts use “FDIC insured” as shorthand for “federally insured.” That shorthand is sloppy. When you’re choosing where to keep your emergency fund, the exact insurer and the exact coverage category are what matter.
How To Confirm Your Credit Union Is Federally Insured
You don’t need a phone call or a branch visit. Run these checks, in this order, and you’ll get a clear answer fast.
- Scan for the NCUA sign. Many institutions post “Federally insured by NCUA” in the lobby, on statements, or in the website footer.
- Use the NCUA credit union locator. Search the institution name and location and match the charter details to what you see on your account documents.
- Match the legal name. Apps and “brand names” can differ from the chartered name. Your account agreement should list the insured credit union’s legal name.
- Ask for the share insurance disclosure. Federally insured credit unions can provide standard disclosures that state the insurer and coverage rules.
If the credit union says it’s privately insured, don’t panic. Just slow down and read the insurer’s terms, the limit, and what triggers payouts. State rules set the boundaries.
Common Traps That Cut Your Effective Coverage
Deposit insurance is generous, yet it’s not a blank check. Most “problems” come from account structure, not from the institution.
Two Joint Owners Isn’t Always “Double Coverage”
Joint accounts are insured by the ownership category, and each co-owner’s share is counted for that category at that credit union. If you and a partner have multiple joint accounts at the same credit union, they can be combined for the joint category limit. Naming and titling matter.
Multiple Single Accounts Still Add Up Together
Opening three separate savings accounts in your name at the same credit union doesn’t create three separate $250,000 buckets. They’re usually combined under the single-owner category.
Payable-On-Death And Trust Accounts Need Clean Paperwork
Beneficiaries can increase coverage under certain trust categories, yet the rules hinge on proper titling and valid beneficiary designations. An account titled wrong can change how it’s counted.
Business Accounts Follow Different Ownership Logic
Business deposits can be insured under separate categories depending on entity type and documentation. A sole proprietor account may be treated differently than an LLC or corporation account.
Coverage Limits By Ownership Category
These are the buckets that drive the math. The exact rule details can get technical, so the table below sticks to the patterns most households run into. If you’re near a limit, it’s worth mapping every account at the same credit union, by owner and category, before you move money.
| Ownership Category | Standard Limit | Plain-English Example |
|---|---|---|
| Single owner | $250,000 per owner | One person’s checking + savings at one credit union |
| Joint owners | $250,000 per co-owner | Two people share one joint savings account |
| Certain retirement accounts | $250,000 per owner | IRA share certificate held at the credit union |
| Revocable trust | Depends on beneficiaries | POD account naming eligible beneficiaries |
| Irrevocable trust | Depends on terms | Trust deposits where a beneficiary’s interest is fixed |
| Employee benefit plan | Depends on plan | Plan assets deposited for participants |
| Government accounts | Rules vary | Public unit deposits held at a credit union |
Ways To Stay Fully Insured Without Playing Games
If you’re holding more than the standard limit, you’ve got clean options that don’t rely on loopholes or weird account clutter.
- Spread funds across ownership categories when your life situation already fits it (single, joint, retirement, trust).
- Use more than one federally insured credit union if you prefer credit unions and want separate coverage buckets.
- Split between a credit union and a bank if you want both NCUA and FDIC coverage across institutions.
- Keep a written map of account titles and owners so you can confirm limits at a glance.
Don’t rely on “extra accounts” at the same place to create extra insurance. Insurance limits are tied to owners and categories, not to the number of accounts.
What To Watch With Apps And “Banking” Brands
A lot of people don’t open accounts directly with a bank or a credit union anymore. They tap “open account” inside an app, then assume the app is the insured institution. Sometimes it is. Often it’s not.
Find The Actual Charter Holder
Look for language like “banking services provided by…” or “deposits held at…”. If the app is tied to a partner bank, FDIC coverage may apply through that bank. If the app is tied to a credit union, NCUA coverage may apply through that credit union. If neither is true, you may be holding something that has no deposit insurance at all.
Confirm Pass-Through Eligibility
When an app uses a partner institution, insurance can depend on whether your funds are recorded in your name (or in a way that qualifies for pass-through coverage) and whether the app keeps accurate sub-accounting. If the disclosure is vague, treat that as a signal to read more closely.
Two-Minute Checklist You Can Run Fast
Use this as a fast end-screen audit before you park a big balance anywhere for yourself.
- Identify the institution type: bank or credit union.
- Match the insurer label: FDIC for banks, NCUA for credit unions.
- Confirm federal vs private insurance if it’s a credit union.
- List every account at the same institution by owner and title.
- Add balances inside each ownership category.
- If you’re near a limit, move excess to another insured institution or category that fits your situation.
If you came here asking “are any credit unions fdic insured?”, you can stop now hunting for an FDIC logo on a credit union website. Instead, check for NCUA share insurance and then make sure your account titles match how you want your coverage counted.