National Credit Union Share Insurance Fund
/ˈnæʃənəl ˈkrɛdɪt ˈjunɪən ʃɛər ɪnˈʃʊərəns fʌnd/
Definitions
- (n.) A federally managed insurance fund that protects members' deposits in federally insured credit unions against loss due to credit union failure.
The National Credit Union Share Insurance Fund guarantees the safety of deposits up to a specified limit for credit union members.
Forms
- national credit union share insurance fund
Related terms
See also
Commentary
This fund functions similarly to the FDIC but specifically insures credit union shares, highlighting the importance of specifying the insured institution type in legal contexts.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.