Your Money is safe with us!
At Valley your deposit accounts are insured up to at least $1,000,000!
{beginAccordion}
How to increase your federally insured deposit accounts?
{openTab}
$1,000,000 Minimum Deposit Coverage! Plus, no enrollment needed, all members automatically qualify for FREE
First, as a Valley Credit Union member, your deposits are federally insured by the National Credit Union Administration (NCUA) for a minimum of $250,000. The NCUA is an independent agency of the U.S. government, providing similar insurance protection as the FDIC does for bank customers.
For details about NCUA deposit insurance or how to structure your accounts to qualify for greater federal coverage, please refer to the chart below or contact Valley Credit Union.
Second, accounts exceeding the maximum level of coverage provided by NCUA, additional insurance of a minimum of $750,000 is available through ESi, a wholly owned subsidiary of American Share Insurance, a credit union-owned private deposit insurer founded in 1974 by credit unions, for credit unions.
NCUA Coverage Example with Excess Share Insurance
| Account Type | Account Title | Beneficiaries | NCUA Coverage | ESi Coverage | Total Insured |
| Individual | Husband | None | $250,000 | $750,000 | $1,000,000 |
| Individual | Wife | None | $250,000 | $750,000 | $1,000,000 |
| Joint | Husband & Wife | None | $500,000 | $1,500,000 | $2,000,000 |
| Single POD* Account | Husband | Wife | $250,000 | $750,000 | $1,000,000 |
| Single POD* Account | Wife | Husband & Child 1 | $500,000 | $1,500,000 | $2,000,000 |
| Living Trust Account | Husband & Wife | Child 2 Child 3 Child 4 |
$1,500,000 | $4,500,000 | $6,000,000 |
| IRA | Husband | None | $250,000 | $750,000 | $1,000,000 |
| IRA | Wife | None | $250,000 | $750,000 | $1,000,000 |
| Total Insured Amount |
$3,750,000 | $11,250,000 | $15,000,000 | ||
*Payable-on-death
The easiest way to increase your amount that is federally insured is to designate beneficiaries on any individual, joint, and trust account you have. Each beneficiary is insured for $250,000. Just remember, that any beneficiary you name will someday inherit your funds.
Coverage extends to all types of deposit accounts, including personal accounts, business accounts, share certificates, and IRAs.
Click below to be taken to a Share Insurance Estimator to plug in your scenerio. Keep in mind, that your funds are insured to a minimum of $750,000 more with our private insurance.
{endAccordion}