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NCUSIF Insurance Coverage Change (Effective 1/1/13) December 31, 2012NCUSIF INSURANCE COVERAGE CHANGE (effective 1/1/13)
NOTICE OF EXPIRATION OF THE TEMPORARY FULL NCUSIF INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS
Beginning January 1, 2013, funds deposited in a noninterest- bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the National Credit Union Share Insurance Fund (NCUSIF). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the NCUSIF up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.
For more information, please visit ncua.gov or call a member service representative at 930-7700 or toll free 1-800-514-2328.