Commonwealth Credit Union is federally insured by the National Credit Union Administration (NCUA), an agency of the federal government. This agency insures your savings through the National Credit Union Share Insurance Fund (NCUSIF). All accounts are insured up to $250,000 per member and Roth and Traditional IRA accounts are insured for another $250,000. The NCUSIF is the strongest federal deposit insurance fund in the nation. Always look for the NCUA seal.
Commonwealth Credit Union accounts are also insured an additional $100,000 by the Excess Share Insurance Corporation, a wholly-owned subsidiary of American Share Insurance, the nation's largest private deposit insurer. ESI insures only credit unions meeting the highest standards. This insurance is provided free to all Commonwealth Credit Union members. IRA accounts are insured with an additional $100,000 in coverage.
This means that Commonwealth Credit Union accounts are insured to $350,000, with Roth and Traditional IRA accounts insured to an additional $350,000. That's $700,000 in total coverage -- all at no cost to you!