NCUA Deposit Insurance
PSECU is a credit union, not a bank. Whereas banks are federally insured by the Federal Deposit Insurance Corporation (FDIC), credit unions are federally insured by the National Credit Union Administration (NCUA). Information on federally insured credit unions can be found at NCUA.gov.
All PSECU deposit shares, including checking, Regular, additional savings, money market and certificates, are federally insured by the National Credit Union Administration (NCUA) up to $250,000, the maximum allowed by law. In addition to the $250,000 of insurance provided on an individual account or combination of individual accounts, you are also insured up to $250,000 for any combination of accounts you may hold jointly with other individuals.
IRAs are insured separately from other PSECU shares. Traditional and Roth IRAs are insured up to $250,000.
Credit union members have never lost a penny of insured savings at a federally insured credit union. The NCUA-managed insurance fund has the backing of the full faith and credit of the U.S. government.