For Details, Contact:
External Affairs
email: pacamail@ncua.gov
Fax: (703) 518-6409

NCUA Is Revising All Documents Related To Increased Insurance Protection

Alexandria, Va., October 3, 2008 – Today’s passage of the Emergency Economic Stabilization Act of 2008 will require NCUA to immediately increase share insurance protection to $250,000 on all types of accounts until December 31, 2009.

NCUA is reviewing all share insurance coverage materials included on the Internet Share Insurance Tool Kit, such as the Your Insured Funds brochure and print advertisement, to make needed revisions. Revised documents reflecting $250,000 coverage will be posted to the NCUA website as soon as possible.

The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of nearly 89 million accounts in all federal credit unions and the overwhelming majority of state-chartered credit unions.

                                                            -NCUA