NCUA Notice of Insurance Coverage
All funds in a "noninterest-bearing transaction account" are insured in full by the National Credit Union Administration through December 31, 2012. This temporary unlimited coverage is in adddition to, and separate from, the coverage of at least $250,000 available to members under the NCUA's general share insurance rules.
The term "noninterest-bearing transaction account" includes a traditional share draft account (or demand deposit acount) on which the insured credit union pays no interest or dividend. It does not include any transaction account that may earn intesest or dividends, a negotiable order of withdrawl ("NOW") account, money-market deposit account, and Interest of Lawyers Trust Account ("IOLTA"), even if share drafts may be drawn on the account.
For more information about temporary NCUA insurance coverage of transaction accounts, visit www.ncua.gov.