All noninterest-bearing transaction accounts will be fully insured, regardless of the account balance and the ownership, by the National Credit Union Administration (NCUA) through December 31, 2012. This temporary unlimited coverage is in addition 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 only traditional, noninterest-bearing demand deposit (or checking) accounts that allow for an unlimited number of transfers and withdrawals at any time, whether held by a business, individual, or other type of depositor. It does not include any transaction account that may earn interest or dividends, 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.