Roberto deposited $66,000 in various individual accounts at his local credit union. He and his wife also have a joint savings account worth $54,700. What portion of these deposits is insured?

Question

Quizplus · Accepted Answer

The NCUA insures accounts for up to $250,000 per depositor, but depositors can obtain additional coverage by opening joint accounts, which are insured separately. Thus, both Roberto's individual accounts and his joint account would be fully insured since neither exceeds the $250,000 limit.

Roberto Deposited $66,000 in Various Individual Accounts at His Local