Unlike Banks and Trusts which are insured by the FDIC is centered around Banks and Trusts, credit unions are insured by the National Credit Union Administration (NCUA) instead. Both institutions insure accounts up to $250,000. The difference is that the NCUA covers regular shares and share draft accounts which are specific to credit unions and the $250,000 coverage limit applies to total deposits at a single institution.
Not a member yet?
Becoming a member is oh so easy! At Providence FCU, we exist to serve the needs of our members. Not only will you receive exceptional service, you will also become a part of the greater credit union movement and community; not to mention all the great perks that come with PFCU membership! But shhhh…that’s our little secret.