Deposits with Santa Ana Federal Credit Union are federally insured up to $250,000 through the National Credit Union Administration (NCUA), a U.S. government agency.
The maximum $250,000 NCUA insurance covers the balances of your combined individual savings account, money market account, certificate of deposit and Secured Checking accounts.
Insurance coverage can be expanded through joint ownership. Combined balances in joint accounts receive separate insurance coverage from individual accounts.
Insurance covers up to $250,000 per individual on the account. There is a $250,000 maximum coverage available for any Member through joint ownership.
Individual Retirement Account deposits are insured separately up to $250,000.
Trust Accounts provide a maximum of $250,000 for each beneficiary per trustee. These accounts receive separate insurance coverage from other trustee accounts.
Custodial Accounts are insured separately. A minor's custodial account can be insured up to $250,000 for the combined balances.
How to Maximize Your Coverage
Members can maximize their deposit insurance coverage using different account combinations. The chart below illustrates how you can maximize your coverage:
|up to $250,000 coverage||Individual $250,000|
|up to $500,000 coverage||Individual $250,000||Account with Joint Owner $250,000|
|up to $750,000 coverage||Individual $250,000||Account with Joint Owner $250,000||Individual Retirement Account $250,000|
|up to $1,000,000 coverage||Individual $250,000||Account with Joint Owner $250,000||Individual Retirement Account $250,000||Trust Account with 1 Qualifying Beneficiary $250,000|
Visit the NCUA website and learn more about federally-insured deposits.