Deposit Insurance

Are my funds at Altura Credit Union safe?

Yes. Your money is insured by the full faith and credit of the U.S. Government through the National Credit Union Administration and its National Credit Union Share Insurance Fund (NCUSIF). Similar to the FDIC for banks, the NCUSIF provides all Altura members with $250,000 in coverage for their individual share accounts.

Are all my Altura accounts covered by NCUSIF insurance?

For individuals, funds in the following accounts that total $250,000 or less are covered: regular shares, checking, money market and share certificates. For joint account holders, each owner of the account is insured up to $250,000. So a two-person account has $500,000 in coverage.

The chart at the bottom of the page displays an example of insurance coverage for a family of five; husband, wife and three children. The potential total coverage in this example for Mr. Member and Mrs. Member is $2,250,000.

What is the coverage on Individual Retirement Accounts?

Individual Retirement Accounts are insured up to $250,000.

What coverage is available for Trust Accounts?

Trust Accounts or Pay on Death accounts are insured up to $250,000 for each beneficiary relationship. As an example, a Trust Account with one trustee and two beneficiaries will be insured up to $500,000. Note: Revocable and Irrevocable Trusts are calculated separately for the purpose of share insurance.

What options are available to me to diversify funds to be sure I don’t exceed the limits of insurance coverage?

If you are concerned that you have funds on deposit that exceed the limits of the NCUSIF, please stop in at any one of our branches and speak to a branch manager. They’ll be happy to assist you.

How secure is Altura?

Altura has been serving the financial needs of its members in the Inland Empire since 1957. Over the past decade, Altura has strategically expanded to better serve members with financial services and products. Altura is backed by assets close to $1 billion. In addition, Altura never strayed from its traditional lending philosophy.

How does the local economy affect Altura?

The downturn in the economy is providing challenges for everyone – from individuals to families to businesses. However, Altura is in a strong financial position and in no danger of going out of business. Because of our conservative lending practices, we have not experienced the problems that other lenders have in recent months. In addition, we have adequate reserves to help us ride out the tough times.

Click here to use a tool to estimate NCUA coverage on a specific account.


If you have further questions or concerns, please feel free to contact us at 1-888-883-7228. You can also call NCUA directly at 1-800-755-1030.

NCUSIF Insurance Sample Coverage

Parties Account Type NCUSIF
Joe Member Individual $250,000
Jane Member Individual $250,000
Joe and Jane Member Joint $500,000
Joe Member IRA $250,000
Jane Member IRA $250,000
Joe and Jane Member, as trustees with 3 children as beneficiaries Trust/Pay On Death $750,000
  Total: $2,250,000