The share insurance at SFEFCU is similar to deposit insurance provided by the
Federal Deposit Insurance Corporation (FDIC). Share accounts in federally
insured credit unions are insured up to $250,000, an amount equal to the
insurance protection offered by the FDIC. Retirement Insurance coverage has
been increased to $250,000 - details can be found at the NCUA site
. Details on
the NCUA insurance
coverage can be found on the NCUA site.
As a member of SFEFCU, you do not pay directly for your share insurance protection. SFEFCU pays into the NCUSIF a
deposit based on the total amount of insured shares in the Credit Union.