Deposits at all federal credit unions are covered by National Credit Union Share Insurance Fund (NCUSIF) protection. Not one penny of insured savings has ever been lost by a member of a federally insured credit union. Deposits at Merck Employees Federal Credit Union are covered by the NCUSIF.
Deposits at federally insured credit unions, like Merck Employees FCU, are insured up to at least $250,000 per individual depositor. The National Credit Union Administration (NCUA) is the independent agency that administers the NCUSIF. Like the FDIC’s Deposit Insurance Fund, the NCUSIF is a federal insurance fund backed by the full faith and credit of the United States government.
To help structure your accounts to get the most insurance coverage, the NCUA has provided a document that reviews the coverage. You can download a copy of that document by clicking here.
The agency has also created a “Share Insurance Estimator”, which will allow you to determine the insurance coverage on various account situations. The estimator can be accessed by clicking here.
If you have specific questions about NCUA’s share insurance coverage, call 1-800-755-1030, option 1, Monday through Friday, 8:00 AM to 5:00 PM ET. You can also send an email to dcamail@ncua.gov.
