You're Safe with SolidarityWhen members put their money into Solidarity, it's protected against loss up to $250,000 by the NCUA (National Credit Union Administration). IRAs are insured separately up to $250,000. Essentially, that's the same thing as what the FDIC offers to customers at any bank in the United States. The insurance is there to protect members (depositors at banks) from the loss of their principal deposit up to $250,000 in the case of a failure or serious financial impairment of the financial institution.
NCUA is an independent federal government agency that charters and supervises federal credit unions and insures accounts in federal and most state-chartered credit unions across the country through the National Credit Union Share Insurance Fund (NCUSIF), a federal fund backed by the full faith and credit of the United States government.
For more information about the NCUA, just visit the NCUA website.
Solidarity has increased your deposit insurance up to an additional $250,000 through Excessive Share Insurance.