What insurance does Golden 1 have and how does it benefit members?

Golden 1 has been a safe and secure credit union since 1933, and is insured by the National Credit Union Administration (NCUA). The NCUA is an independent agency of the United States government.

A person’s interest in joint accounts are insured separately up to $250,000, provided each co-owner has personally signed an account signature card and has a right of withdrawal on the same basis as the other co-owners. However, the insurance protection for a co-owner on joint accounts is not increased by rearranging the names of the owners, changing the style of names, or by establishing more than one joint account. The interests that a particular co-owner has in all joint accounts held in the same credit union will be added together and insured up to $250,000.

Additional NCUA share insurance may be available for members with certain kinds of trust and retirement accounts. For share insurance purposes, accounts with payable-on-death beneficiary designations are treated as revocable trust accounts. For more information, please read the NCUA’s comprehensive booklet How Your Accounts Are Federally Insured.