National Credit Union Administration (NCUA)
Share insurance rules and the six-month grace period after a credit union member dies
NCUA Consumer Assistance Center
NCUA Consumer Assistance Center, 1775 Duke Street, Alexandria, VA 22314-3418
Share Insurance Questions
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6-month grace period for NCUA share insurance coverage; credit union account access timelines vary by institution
The National Credit Union Administration insures credit union deposits up to $250,000 per member, per institution, per ownership category through the National Credit Union Share Insurance Fund (NCUSIF). When a credit union member dies, NCUA provides a 6-month grace period during which insurance coverage is maintained as if the member were still alive, giving heirs time to restructure accounts without losing coverage.
Notifying the NCUA when someone dies
The NCUA does not receive death reports — you should notify the credit union directly when a member dies. NCUA share insurance coverage is maintained for 6 months after the member's death, providing time to restructure accounts. If a credit union fails during this period, the NCUA treats the deceased as still alive for insurance purposes.
Timeline: Restructure accounts within 6 months of death to preserve full NCUA share insurance coverage
- •Contact each federally insured credit union where the deceased held accounts
- •Provide a certified copy of the death certificate
- •Ask about the account types and current coverage levels
- •NCUA treats the deceased as still alive for 6 months for insurance purposes
- •Coverage levels remain unchanged during this period for individual and joint accounts
- •The grace period does NOT apply to POD/trust accounts — coverage transfers immediately to beneficiaries
- •Use this time to restructure accounts if needed to stay within insurance limits
- •Individual accounts: coverage continues at $250,000 for 6 months, then reverts to the new owner's limits
- •Joint accounts: the surviving co-owner's coverage continues at $250,000 per co-owner for 6 months
- •POD/trust accounts: coverage changes immediately when the owner dies — funds transfer to beneficiaries
- •Estate accounts: a separate $250,000 coverage category for funds managed by the executor
- •Consider consolidating or redistributing deposits to stay within insurance limits
Required Documents
- Certified copy of the death certificate
- Member identification and account numbers
- Letters testamentary or letters of administration (for estate access)
- Trust document (if accounts are held in a revocable trust)
- Government-issued photo ID of the person making the claim
Timeline
6-month grace period for NCUA share insurance coverage; credit union account access timelines vary by institution
Survivor benefits
6-Month Grace Period for Share Insurance
The NCUA insures a deceased member's accounts as if they were still alive for 6 months after death (12 CFR 745.2(e)). During this grace period, insurance coverage does not change unless accounts are restructured. This allows heirs and estate administrators to reorganize accounts without losing coverage. The grace period will not be applied if it would result in less coverage than would otherwise apply.
Eligibility: All share accounts held by the deceased at federally insured credit unions
Amount: Up to $250,000 per member, per credit union, per ownership category
How to apply: No action needed for the grace period itself — it applies automatically. Notify each credit union where the deceased held accounts and provide a certified death certificate. Use the 6-month window to restructure accounts if needed to stay within insurance limits.
Learn more →Joint Account Coverage After Death
Joint accounts receive $250,000 in NCUA coverage per co-owner. When one co-owner dies, the 6-month grace period preserves the deceased co-owner's share of coverage while the account is administered. After 6 months, the surviving co-owner's share is added to their individual accounts and subject to the $250,000 single-account limit.
Eligibility: Surviving co-owner of a joint credit union account
Amount: $250,000 per co-owner
How to apply: Contact the credit union with a certified death certificate. The surviving co-owner should review total deposits across all ownership categories at that credit union to ensure balances remain within insured limits after the 6-month grace period ends.
Learn more →POD/Trust Account Coverage Changes
Payable-on-death (POD) and revocable trust accounts receive $250,000 in coverage per owner per beneficiary, up to $1,250,000 per owner (for 1-5 beneficiaries). The 6-month grace period does NOT apply to POD/trust accounts — when the account owner dies, coverage transfers directly to the named beneficiaries and is recalculated based on their own ownership interests. Note: Effective December 1, 2026, the NCUA is simplifying trust account insurance rules (12 CFR Part 745 final rule) by establishing a single unified "trust accounts" category covering revocable trusts (including formal trusts, POD, ITF, testamentary, and Totten Trust accounts) and irrevocable trusts, all calculated as $250,000 per beneficiary up to $1,250,000 per owner at five or more beneficiaries.
Eligibility: Beneficiaries of POD or revocable trust accounts
Amount: $250,000 per owner per beneficiary (up to $1,250,000 per owner for 1-5 beneficiaries)
How to apply: Named beneficiaries should contact the credit union with a certified death certificate to claim funds. Coverage transfers automatically to beneficiaries — no NCUA claim is needed unless the credit union has failed.
Learn more →Decedent's Estate Account Coverage
Funds held in the decedent's name or in the name of an executor or administrator are covered as a separate insurance category up to $250,000 in aggregate. This is separate from the deceased member's individual account coverage. Either the decedent must have been a credit union member, or all beneficiaries of the estate must be members.
Eligibility: Estate of a deceased credit union member
Amount: Up to $250,000 in aggregate for all estate accounts at the same credit union
How to apply: The executor or administrator should present letters testamentary or letters of administration to the credit union along with a certified death certificate. Estate funds deposited at the credit union are covered as a separate ownership category.
Learn more →Frequently asked questions
The NCUA insures a deceased member's accounts as if they were still alive for 6 months after death. During this grace period, insurance coverage does not change unless accounts are restructured. After 6 months, coverage reverts to the new owner's limits based on ownership category.
Joint accounts receive $250,000 in NCUA coverage per co-owner. When one co-owner dies, the 6-month grace period preserves the deceased's share of coverage. After 6 months, the surviving co-owner's deposits are recalculated under their individual ownership categories.
No. The 6-month grace period does not apply to payable-on-death (POD) or revocable trust accounts. When the account owner dies, coverage transfers immediately to the named beneficiaries and is recalculated based on their own ownership interests at that credit union.
NCUA insures deposits at federally insured credit unions. FDIC insures deposits at banks. Both provide $250,000 per depositor per institution per ownership category, and both offer a 6-month grace period for deceased account holders. The coverage rules are nearly identical.
No. If the credit union is operating normally, contact the credit union directly to handle the deceased's accounts. The NCUA only becomes involved if the credit union fails. In a failure, insured deposits are paid automatically — you do not need to file a claim for amounts within the $250,000 limit.
NCUA insures up to $250,000 per member, per federally insured credit union, per ownership category. Different ownership categories (individual, joint, revocable trust, retirement) are insured separately, so one person can have more than $250,000 in total coverage at the same credit union.
Use the NCUA's Share Insurance Estimator at mycreditunion.gov. Enter your credit union, account types, and balances to see your exact coverage. You can also verify that a credit union is federally insured using the NCUA Credit Union Locator.
NCUA covers share (savings) accounts, share draft (checking) accounts, money market accounts, and share certificates (CDs). NCUA does not cover stocks, bonds, mutual funds, life insurance policies, annuities, or safe deposit box contents, even if purchased through a federally insured credit union.
No. NCUA share insurance does not cover digital assets, cryptocurrencies, or accounts held by third-party providers of digital assets. Even if a credit union partners with a cryptocurrency platform, the digital assets are not insured by the NCUSIF. Only traditional deposit accounts (savings, checking, money market, share certificates) are covered.
Sources
Data sourced from National Credit Union Administration primary sources (8 pages reviewed). How we research.
NCUA Consumer Assistance Center
NCUA Consumer Assistance Center, 1775 Duke Street, Alexandria, VA 22314-3418
Share Insurance Questions
Contact Your Credit Union Directly
6-month grace period for NCUA share insurance coverage; credit union account access timelines vary by institution