Insurance

Your Protected Funds

Your deposits with Minnesota Valley federal Credit Union are insured up to at least $250,000 per account per member by the National Credit Union administration (NCUA).  NCUA is an agency of the U.S. Government.  Use the NCUA INSURANCE CALCULATOR to structure your accounts for maximum insurance coverage.

The NCUSIF

The NCUA's deposit insurance is backed by the National Credit Union Share Insurance Fund (NCUSIF).   The NCUSIF is the federal fund used to insure member deposits in federal insured credit unions such as MVFCU.  On July 22, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act permanently established NCUA's standard maximum share insurance amount at $250,000.  The NCUSIF is administrated by the National Credit Union Administration (NCUA) and is backed by the full faith and credit of the U.S. Government.

How is NCUSIF Financed?
The NCUSIF maintains at or near 1.30 percent of federal insured credit union deposits.  By Law, federal insured credit unions maintain one percent of their deposits in the NCUSIF and the NCUA Board can levy a premium if necessary.  Credit Union voluntarily capitalized the fund in 1985 by depositing one percent of their deposits into the fund.  No federal tax dollars have ever been placed in the Fund, and no member has ever lost any money insured by the NCUSIF. 

For more information on the NCUSIF visit the NCUA WEBSITE.