The National Credit Union Association is an independent agency of the United States Government. The NCUA regulates, charters and insures the national federal credit unions. In addition, NCUA insures state-chartered credit unions that desire and qualify for federal insurance.

Your shares in Bay Federal Credit Union are insured by the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the United States Government. Established by Congress in 1970 to insure share accounts at federally insured Credit Unions, the NCUSIF is managed by NCUA. Your share insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation, or FDIC.

Not one penny of insured savings has ever been lost by a member of a federally insured credit union.

Most properly established share accounts in federally insured credit unions are insured to at least $250,000. Recent legislation has increased the insurance coverage on certain retirement accounts, such as IRAs and Keoghs, up to $250,000. You may obtain additional separate coverage on multiple accounts depending on account ownership. Please refer to a Member Service Representative or “Your Insured Funds” brochure for additional details.