Skip to main content

Deposit Insurance

At Members First, your deposits are insured up to $500,000.

Rest assured, your deposit accounts are insured up to $500,000 with us. This exceptional level of coverage is attained through a combination of federal insurance provided by the National Credit Union Administration (NCUA) and private insurance from Excess Share Insurance Corporation (ESI).

National Credit Union Adminstration (NCUA) Insurance

The shares in your credit union are insured up to $250,000 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 member share accounts at federally insured credit unions, the NCUSIF is managed by NCUA under the direction of the three-person Board. Your share insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC).

Generally, if a member has more than one account at Members First with the same ownership, those accounts are added together and insured in the aggregate. There are exceptions, however. You may obtain additional separate coverage on multiple accounts, but only if you have different ownership interests or rights in different types of accounts. For example, if you have a regular share (savings) account and an Individual Retirement Account (IRA) at the same credit union, the regular share (savings) account is insured up to $250,000 and the IRA is separately insured up to $250,000. 

However, if you have a regular share (savings) account, a share certificate (CD), and a share draft (checking) account in your own name, you will not have additional coverage. Those accounts will be added together and insured up to $250,000 as your individual account. A joint owner's interest in all joint accounts in the same credit union will be added together and insured up to the Standard Maximum Share Insurance Amount of $250,000.

For more information on NCUA insurance coverage, visit

Excess Share Insurance (ESI)

We are pleased to provide an additional $250,000 of deposit insurance coverage through Excess Share Insurance Corporation (ESI), a licensed property and casualty insurance company. ESI is a wholly owned subsidiary of American Share Insurance, the nation's largest private deposit insurer for credit unions.

Members exceeding the maximum level of coverage of $250,000 provided by the NCUA are also insured up to an additional $250,000 by ESI. For example, if an individual member has a regular share (savings) account, share draft (checking) account, and share certificate (CD) at the credit union that when added together amount to $390,000, $250,000 is insured by the NCUA and the remaining $140,000 is insured by ESI.

For more information on Excess Share Insurance, visit

Our friendly call center representatives would be happy to speak with you about your share insurance and ways to structure your accounts to maximize your coverage. Feel free to contact us during regular business hours.