Deposit Insurance

LGFCU is federally insured by the National Credit Union Administration (NCUA), a federal agency that administers the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF, like the FDIC's Deposit Insurance Fund, is a federal deposit insurance fund backed by the full faith and credit of the U.S. Government.

The NCUA protects members against losses should a federally-insured credit union fail. Not one penny of insured savings has ever been lost by a member of a federally-insured credit union. No credit union may terminate its federal insurance without first notifying its members.


  • Insures all types of deposit accounts up to $250,000.
  • Insures retirement accounts separately up to $250,000.
  • Allows coverage to be increased through multiple account ownership. (For example, individual accounts with the same account holder are insured up to $250,000. Joint accounts held separately from individual accounts are also insured up to $250,000.)

How we protect your money

LGFCU uses several methods to make certain member deposits remain secure.

  • The Credit Union invests savings dollars in safe, secure investments, primarily loans to other members.
  • Regularly scheduled exams of the Credit Union by:
  • Supervisory Committee oversight
  • Periodic audits of operations departments and branches. LGFCU provides operations and branch support through the SECU network. All departments and branches are subject to periodic review by SECU Audit Services.
  • Each employee with access to account information is bonded.
  • Property insurance is maintained to guard against losses by fire and theft.
  • As required by law, annual reserves are set aside for additional protection.

Maximize your account coverage

If you have several credit union accounts and would like to know how to structure them for maximum insurance coverage, Visit the NCUA website and use the Share Insurance Estimator or download the brochure Your Insured Funds.

You may obtain additional separate coverage on multiple accounts, but only if you have different ownership interests or rights in different types of accounts, and you complete the appropriate forms.

For more information:

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