Unclaimed Asset Search: Find and Claim a Missing Credit Union Account

NCUA-insured Accounts at Failed Credit Unions

► NCUA-insured accounts at closed credit unions  The National Credit Union Administration (NCUA) supervises and insures the deposits in all federal and most state chartered credit unions - over 94 million accounts.

When a federally-insured credit union is liquidated, NCUA's Asset Management and Assistance Center (AMAC) assumes responsibility for paying share accounts to members.

The Emergency Economic Stabilization Act of 2008 temporarily increased NCUA deposit insurance from $100,000 to $250,000, effective 3 October 2008 through 31 December 2009. The change was made permanent and retroactive by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

The National Credit Union Share Insurance Fund (NCUSIF) currently insures member deposits up to the same $250,000 limit as the FDIC.

► Unclaimed accounts at credit unions closed by the NCUA   Since the start of the great recession in 2008, more than 65 credit unions have been closed by regulators.

Be aware you may have an account at a failed institution and not know it, either because you were a depositor at a credit union acquired by an institution that subsequently failed, or if you are the beneficial owner of a brokered or trust account.

Also note if you have uninsured funds at a failed credit union i.e. excess deposits over the insurance limit - you may be entitled to receive a portion of its liquidated assets. In many instances these funds go unclaimed because dividend checks sent depositors, perhaps years after closure, went undelivered or were never cashed.


Abandoned Funds and Unclaimed Property Search

Click on binoculars to search for a lost account or safe deposit box at a closed credit union


► NCUA deposit insurance claims  There are time limits on claims. Share accounts claimed within an 18-month insurance period are paid the full insured amount. After the 18-month insurance period, unclaimed shares are considered uninsured and are written down to subsidize any losses incurred.

In the rare event a liquidation results in surplus funds, shareholders may be entitled to receive an additional distribution.  

► American Share insured accounts at closed credit unions Over one million accounts at 140 credit unions in nine states are privately insured by American Share Insurance, a private, non-profit corporation owned by member credit unions.

Note American Share Insurance can also be used by a credit union to provide $250,000 in additional coverage over and above the NCUA insurance maximum, i.e. $500,000 total. For information and assistance contact: www.americanshare.com