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This provides deposit insurance for credit unions in much the same way as the FDIC provides insurance for banks. Look for the NCUA logo at your credit union's teller stations. The standard maximum limit is $250,000 per individual account holder, per federally insured credit union. (To check on whether your credit union accounts are fully covered, use NCUSIF's coverage estimator at http://webapps.ncua.gov/ins.)
Most noticeably, they are: 1  No minimum balance. You donât get penalized for going below any set level on your share draft account as one does with checking accounts at many banks. 2  Low monthly fee. Your Credit Union share draft account costs you only $1.00 per month.