FDIC insurance and credit unions If you have accounts with credit unions rather than banks, you’re probably wondering: are credit unions FDIC insured? FDIC insurance does not apply to credit unions.Instead, credit unions have a different deposit insurance scheme, operated through NCUA⁴ (National...
so depositors who keep their balances below a certain limit won't lose money even if banks fail. Some financial products, like investment accounts, aren't insured, and some banks also aren't insured by the FDIC. Credit unions are federally insured by a different federal...
No, but a similar agency—theNational Credit Union Administration (NCUA)—provides similar insurance coverage for credit unions and their members.7 Are Money Market Funds FDIC Insured? No, whilemoney market deposit accountsoffered by FDIC-insured banks are covered by the FDIC,money market funds,whi...
certain banking tools that you can't find at a normal bank. Online banks are no doubt safer, as well as credit unions, which have equivalent FDIC Insurance, called NCUA Insurance, to banks. Know what type of banking institution you're joining and how your money is...