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| How Grandfather, Grandmother and a Grandchild May Have Insured Accounts
Totaling $1,000,000 |
 |
| Individual Accounts: |
|
Grandfather |
$100,000 |
Grandmother |
$100,000 |
Grandchild |
$100,000 |
| Joint Accounts: |
|
Grandfather and Grandmother |
$100,000 |
Grandfather and Grandchild |
$100,000 |
Grandmother and Grandchild |
$100,000 |
| Revocable Trusst Account: |
|
Grandfather as Trustee for Grandmother |
$100,000 |
Grandfather as Trustee for Grandchild |
$100,000 |
Grandmother as Trustee for Grandfather |
$100,000 |
Grandmother as Trustee for Grandchild |
$100,000 |
|
--------------- |
| TOTAL= |
$1,000,000 |
|
Grandparents must be married to each other in order for the revocable trust accounts of one for the other to be separately insured. |
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Special Notes |
| About Individual Retirement Accounts |
About NCUA Sanction of this Page |
| In addition to the coverage shown in the charts above, any funds in IRA or Keogh Accounts are eligible for separate insurance protection up to $100,000. They are not included in these charts because they are subject to special rules for deposits and withdrawals. |
The NCUA cannot officially sanction and approve this page, because the examples, although generally accurate, are designed to simplify in layman's terms rather complex rules that in some circumstances may only be fully understood in the statutory and regulatory context in which they were written. |
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