At Houston Texas Fire Fighters FCU, individual accounts are insured up to $500,000. This exceptional level of coverage is attained through a combination of federal insurance provided by the National Credit Union Administration (NCUA) through the National Credit Union Share Insurance Fund (NCUSIF) and from Excess Share Insurance Corporation (ESI) brought to you by American Share Insurance, a private insurance company, not affiliated with NCUA.
Learn more about NCUA and how Share Insurance works.
Learn more about ESI.
ESI’S COVERAGE
First, NCUA’s basic federal coverage insures credit union members’ deposits up to $ 250,000, but accounts may be structured in different ways — such as joint, payable-on-death or IRA accounts — to achieve federal coverage of more than $250,000. For details about federal deposit insurance, or how to structure your accounts to qualify for greater federal coverage, please check with us or contact NCUA.
Second, accounts exceeding the maximum level of coverage provided by NCUA are also insured up to an additional $250,000 by ESI. For example, if you have a regular savings (share) account, checking (share draft) account and certificate of deposit (share certificate) that together add up to $500,000, then $250,000 is insured by NCUA and the remaining $250,000 is insured by ESI.
COVERAGE PER MEMBER WITH EXCESS INSURANCE*
*Example only
All individual share, share draft and share certificates of deposit accounts held by the same member are added together and insured up to $250,000 by NCUA and an additional $250,000 by ESI, for a total of $500,000. An individual share account is an account owned by one individual\without the right of withdrawal by others. Individual accounts are insured separately from IRA and joint accounts. All joint accounts held by the same member are added together and insured up to $250,000 by NCUA and an additional $250,000 by ESI, for a total of $500,000. Joint accounts are insured separately from individual and IRA accounts. All IRA accounts held by the same member are added together and insured up to $250,000 by NCUA and an additional $250,000 by ESI, for a total of $500,000. IRA accounts are insured separately from individual and joint accounts.
| Ownership | NCUSIF | ESI | TOTAL |
| Individual Accounts | $250,000 | $250,000 | $500,000 |
| Joint Accounts | $250,000 | $250,000 | $500,000 |
| IRA | $250,000 | $250,000 | $500,000 |
| Payable on Death* | $250,000 | $250,000 | $500,000 |
*POD assumes only 1 signer and 1 beneficiary.