Keeping Your Money Safe and Sound Right Now
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
00:00
How Does NCUA Insurance Work?
NCUA insurance is for credit unions as well as FDIC insurance which is for banks. When you open up an account and you buy a certificate of deposit, whether it's at a credit union or a bank with no beneficiaries on it, then you automatically have $250,000 of insurance in both cases. For every beneficiary you name after that, it's $ 250,000 for one, $500,000 for two, $750,000 for three, $1,000,000 for four,. So if again you have money within the insurance limits of whether it's a bank or a credit union, you are not to panic.
Transcript
Play full episode
