Legal Information / deposit insurance

Federal Insurance on Accounts

Texas Bay Area Credit Union is federally insured by the National Credit Union Share Insurance Fund, which is backed by the full faith and credit of the U. S. Government.

The National Credit Union Administration (NCUA) is an independent agency of the United States Government. NCUA regulates, charters, and insures the nation's Federal credit unions. In addition, NCUA insures state-chartered credit unions that desire and qualify for federal insurance.

The shares in your credit union are insured by the National Credit Union Share Insurance Fund (NCUSIF) or the Fund, an arm of NCUA. Established by Congress in 1970 to insure member share accounts at federally insured credit unions, the Fund is managed by NCUA under the direction of the three-person NCUA Board.

Your share insurance is similar to deposit insurance provided by the Federal Deposit Insurance Corporation (FDIC). Share accounts are insured up to $250,000, an amount equal to the insurance protection offered by the FDIC. Generally, if a credit union member has more than one account in the same insured Credit Union, those accounts are added together and are issued up to $250,000; however, there are exceptions.

Excess Share Insurance

Protecting your savings with the highest level of security available is one of Texas Bay Area Credit Union's major objectives. That is why we combine your federal deposit insurance coverage with excess deposit insurance protection from Excess Share Insurance (ESI).

In addition to your accounts being covered by the National Credit Union Association (NCUA) to a limit of $250,000, ESI provides an additional $250,000 of savings protection to each qualifying account.

If you have any questions or concerns about your account information at TBACU, please call our Information Center at 713-852-6700 or 800-577-3164 or e-mail us.