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SMCU is Federally Insured
by the NCUA
• NCUA -- short for the National Credit Union Administration -- is an independent federal government agency that charters and supervises federal credit unions and insures accounts in federal and most state-chartered credit unions across the country through the National Credit Union Share Insurance Fund (NCUSIF).
• Congress established the Share Insurance Fund in 1970 to insure member’s shares.
• The Share Insurance Fund is backed by the full faith and credit of the United States Government.
• The Share Insurance Fund provides essentially the same coverage as the Federal Deposit Insurance Corporation’s (FDIC) account insurance.
• Not one penny of insured savings has ever been lost by a member of a federally insured credit union!
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