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The National Credit Union Share Insurance Fund provides deposit insurance to protect the accounts of credit union members at federally insured institutions in the United States. Created in 1970, the Share Insurance Fund is administered by the National Credit Union Administration, an independent federal financial regulator. The Share Insurance Fund is funded completely by participating credit unions, and not one penny of insured savings has ever been lost by a member of a federally insured credit union. The Share Insurance Fund is backed by the full faith and credit of the United States government.
As of December 2016, Share Insurance Fund insured an estimated $1 trillion in member shares in more than 5,800 federally insured credit unions.[1]
- ^ "National Credit Union Administration Annual Report 2007" (PDF). Alexandria, VA: National Credit Union Administration. Archived from the original (PDF) on 2009-08-29. Retrieved 2009-08-08.