Coverage Over $100,000

The basic insured amount for a credit union member is $100,000. Once properly established, share accounts in different rights and capacities can achieve additional insurance coverage. Here are some representative examples of how this additional coverage can be achieved.

 
NCUA Insurance Can Reach $1.4 Million!

HUSBAND AND WIFE $600,000
Individual Accounts
  Husband = $100,000
  Wife = $100,000

Joint Accounts
  Husband = $100,000
  Wife = $100,000

Revocable Trust Accounts
  Husband as Grantor for Wife = $100,000
  Wife as Grantor for Husband = $100,000

                 Total: $600,000

PARENT AND ONE CHILD $600,000
Individual Accounts
  Parent = $100,000
  Child = $100,000

Joint Accounts
  Parent = $100,000
  Child = $100,000

Revocable Trusts Accounts
  Parent as Grantor for Child = $100,000
  Child as Grantor for Parent = $100,000

                 Total: $600,000

GRANDPARENT AND TWO GRANDCHILDREN  $800,000
Individual Accounts
  Grandparent = $100,000
  Grandchild Number One = $100,000
  Grandchild Number Two = $100,000

Joint Accounts
  Grandparent = $100,000
  Grandchild Number One = $100,000
  Grandchild Number Two = $100,000

Revocable Trusts Accounts
  Grandparent as Grantor for Grandchild Number One = $100,000
  Grandparent as Grantor for Grandchild Number Two = $100,000

                 Total: $800,000
 


 HUSBAND, WIFE AND ONE CHILD $1,000,000
Individual Accounts
  Husband = $100,000
  Wife = $100,000
  Child = $100,000

Joint Accounts
  Husband = $100,000
  Wife = $100,000
  Child = $100,000

Revocable Trusts Accounts
  Husband as Grantor for Wife = $100,000
  Husband as Grantor for Child = $100,000
  Wife as Grantor for Husband = $100,000
  Wife as Grantor for Child = $100,000

                 Total: $1,000,000

 

HUSBAND, WIFE AND A GRANDCHILD $1,000,000
Individual Accounts
  Husband = $100,000
  Wife = $100,000
  Grandchild = $100,000

Joint Accounts
  Husband = $100,000
  Wife = $100,000
  Grandchild = $100,000

Revocable Trusts Accounts
  Husband as Grantor for Grandmother = $100,000
  Husband as Grantor for Grandchild = $100,000
  Wife as Grantor for Husband = $100,000
  Wife as Grantor for Grandchild = $100,000

                 Total: $1,000,000

HUSBAND, WIFE AND TWO CHILDREN $1,400,000
Individual Accounts
  Husband = $100,000
  Wife = $100,000
  Child Number One = $100,000
  Child Number Two = $100,000

Joint Accounts
  Husband = $100,000
  Wife = $100,000
  Child Number One = $100,000
  Child Number Two = $100,000

Revocable Trusts Accounts
  Husband as Grantor for Wife = $100,000
  Husband as Grantor for Child Number One = $100,000
  Husband as Grantor for Child Number Two = $100,000
  Wife as Grantor for Husband = $100,000
  Wife as Grantor for Child Number One = $100,000
  Wife as Grantor for Child Number Two = $100,000

                 Total: $1,400,000