Your Money Is Insured


Learn How Your Money Is Protected

Top 100 credit unions imageWith the recent headlines of several bank failures, you may be wondering how safe your own money is. Luckily you are in good hands at GCEFCU, so there is no need to start hiding cash under your mattress.

You’re in Good Hands
Gulf Coast Educators FCU is ranked in the Top 200 Healthiest Credit Unions by and in the Top 100 Best Performing Credit Unions by S&P Global Market Intelligence. Here, we take extra caution when it comes to ensuring your finances are safe and secure. We value your trust in us and don’t take this responsibility lightly.


Your Money is Insured, Just in Case

The “FCU” in Gulf Coast Educators FCU stands for “Federal Credit Union.” All federal credit unions are insured by the National Credit Union Administration (NCUA). Deposits are insured up to at least $250,000 per individual depositor, per ownership account type, per NCUA insured credit union.

If you and your family have $250,000 or less in all of your share deposit accounts at the credit union, your money is fully insured. A member can still have more than $250,000 and be fully insured, provided the accounts meet certain requirements and are properly structured.


If I have more than $250,000 at GCEFCU, how can I make sure all my money is insured?

You may qualify for more than $250,000 in coverage if you own share accounts in different ownership categories. The four categories are:

  • Single Accounts (owned by one person with no beneficiaries): $250,000 per member-owner
  • Joint Accounts (two or more persons with no beneficiaries): $250,000 per owner
  • Revocable Trust Accounts (owned by one or more person(s) with beneficiaries): Each member-owner is insured up to $250,000 for each eligible beneficiary named.
  • Retirement Accounts (IRAs): $250,000 per member-owner


Calculate Your Insurance

If you are unsure if all your funds are fully insured, you can use NCUA’s Share Insurance Estimator. This estimator can be used for personal, business, or government accounts. If you have trouble navigating the Share Insurance Estimator, a video guide is available here.


How can I get more information?

NCUA created a special site called that provides information about everything credit union and share insurance related. You can also view a list of frequently asked questions by clicking here, and view the video below illustrating NCUA’s share insurance coverage.

The opinions expressed on this page are for informational purposes only and is not intended to provide legal or financial advice. The views expressed are those of the author of the article and may not reflect the views of the credit union.