National Credit Union Share Insurance Fund Federally insured by NCUA

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NCUA Share Insurance Estimator

Black Hills Federal Credit Union is federally chartered with member accounts insured to at least $250,000 by the National Credit Union Administration, an agency of the United States Government.

Your shares in BHFCU are insured by the National Credit Union Share Insurance Fund (NCUSIF) or the Fund, an arm of the NCUA. Established by Congress in 1970 to insure member share accounts at federally insured credit unions, the Fund is managed by the NCUA under the direction of the three-person NCUA Board.

Share insurance is similar to deposit insurance provided by the Federal Deposit Insurance Corporation (FDIC). Share accounts in federally insured credit unions are insured to at least $250,000, an amount equal to the insurance protection offered by the FDIC. Generally, if a credit union member has more than one account in the same insured credit union, those accounts are added together and are insured to at least $250,000. Individual Retirement Accounts are federally insured to at least $250,000.

All federal credit unions must be insured by NCUA and no credit union may terminate its federal insurance without first notifying its members.



Not one penny of insured savings has ever been lost by a member of a federally insured credit union. The federal insurance fund has several programs to help insured credit unions that may be experiencing problems, and liquidations or failures are usually done only as a last resort. If a federally insured credit union does fail, however, the NCUSIF will make any necessary payouts to the credit union's members. These payouts are usually done within two days from the time the credit union closes its doors.

Insured credit unions are required to deposit and maintain one (1) percent of their insured shares and deposits in the NCUSIF. The Fund is currently at the strongest and best reserved level in its history. Historically, deposit insurance funds strive for a ratio of equity to insured savings of at least one percent (1%). The NCUSIF ratio of equity to insured shares and deposits ranges from 1.23% to 1.30%.

As a member of an insured credit union, you do not pay directly for your share insurance protection. Your credit union pays into the NCUSIF a deposit, and an insurance assessment, based on the total amount of insured shares and deposits in the credit union.

For more information regarding the National Credit Union Share Insurance Fund, please visit one of our convenient locations and ask for NCUA's publication, "Your Insured Funds."

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