lockfile Excess Share Insurance

As a federally charted credit union, all UKFCU accounts are federally insured by the National Credit Union Association (NCUA) up to $250,000. But did you know UKFCU also pays for Excess Share Insurance (ESI) to offer supplementary deposit insurance coverage beyond the NCUA's $250,000? And even better - it's provided at no cost to our members!

Traditionally, ESI offers smaller credit unions supplementary insurance of up to $250,000 for each member account. With larger credit unions, which are typically stronger and safer, the additional insurance coverage ESI provides per member account is $100,000.

As a large credit union with a net worth of more than 10.2% as of 2.28.21, UKFCU is well above the 7% benchmark required by NCUA.

Due to our strength and safety, beginning May 1, 2021, depending upon how your account relationship with UKFCU is structured, accounts will remain federally insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF). In addition, these accounts will also be insured up to an additional $100,000 by ESI, which means the combined total coverage for your accounts could be up to $350,000.

If you have any questions, please feel free to send a secure email through Online Banking, stop by your local branch, or call 859.264.4200 during regular business hours, and a Member Services Representative will be happy to assist you.