Your Shares Are Federally Insured
Share insurance also separately insures individual and joint accounts. For example, if you have an individual account containing $250,000, and a joint account with your spouse containing $250,000, this individual account is insured to at least $250,000 and the joint account is insured to at least $500,000 for a total coverage of $750,000. For revocable living trusts or payable on death (P.O.D.) accounts you can easily have your funds federally insured for more than the $250,000, depending on the number of qualifying beneficiaries.
How do you know we're federally insured? All federally insured credit unions—like LBS Financial—must post the official NCUA insurance sign in our offices. We are required, by the NCUSIF, to abide by high standards of safety and soundness. Because of that, NCUSIF is a strong, well-capitalized fund. Not one penny of insured savings has ever been lost by a member of a federally insured credit union.
Please feel free to call us at 800.527.3328 if you have any questions regarding your share insurance.