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Deposit Insurance
At VFCU, individual accounts are insured up to $500,000 through a combination of private insurance provided by Excess Share Insurance (ESI) and the federal government insurance provided by the National Credit Union Administration (NCUA).
How your accounts are insured by Excess Share Insurance
Excess Share Insurance (ESI) is a wholly owned subsidiary of American Share Insurance, the nation's largest private deposit insurer, and insures only credit unions meeting its high standards. With ESI, individual accounts have $250,000 in coverage on top of the federal government's $250,000.
How your accounts are federally insured
Valero Federal Credit Union is insured by the National Credit Union Administration (NCUA). The NCUA is the federal government agency that charters and supervises federal credit unions. NCUA also operates and manages the National Credit Union Share Insurance Fund (NCUSIF). Back by the full faith and credit of the U.S. Government, NCUSIF insures the accounts of millions of account holders in all federal credit union and the vast majority of state-chartered credit unions.
The basic coverage provided by NCUSIF
The NCUSIF provides all members of federally insured credit unions with $250,000 in coverage for their individual accounts. These accounts include regular shares, share drafts (checking), money market accounts, and share certificates (CDs). Individuals with account balances totaling $250,000 or less at the same insured credit union have full NCUSIF coverage.
Options for additional coverage
All members of federally insured credit unions have options for coverage that is separate from and in addition to the coverage available to their individual accounts. Those include:
- Retirement Accounts
- Joint Accounts
- Trust Accounts
Share Calculator
Share Insurance Estimator
Learn more about NCUA
Learn more about ESI
The Helping Families Save Their Homes Act of 2009, signed into law May 20, 2009, includes a provision extending $250,000 share insurance coverage provided by the National Credit Union Share Insurance Fund through December 31, 2013. Previously, this level of coverage was set to expire December 31, 2009. The new law also requires NCUA to use the higher $250,000 standard maximum share insurance amount when making decisions about premiums and administering insurance deposit adjustments.
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