Your GP Federal Credit Union deposits are federally insured up to $250,000 by the National Credit Union Administration and backed by the full faith and credit of the federal government. Federal insurance protects deposits in share savings, share draft checking, and share certificate accounts. IRAs are insured separately from other accounts, up to another $250,000 per member.
Additional Coverage
GP Federal Credit Union carries additional coverage through Excess Share Insurance Corporation (ESI) which adds an additional $250,000 in deposit insurance. ESI is the highest level of share insurance coverage available without any direct cost to you. ESI is exclusive to credit unions, and GP Federal is proud to be one of the few credit unions in the state that offer it. However, if you require coverage greater than what we currently offer, you may be able to arrange your accounts to maximize the coverage available. Contact us to learn more.
For more information on NCUA, visit their website at www.ncua.gov. For more information on ESI, visit their website at www.excessshare.com.
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