Credit union trust accounts get one insurance category, capped at $1.25 million per owner
Federal share insurance at credit unions will cover revocable and irrevocable trust funds under one trust accounts category: $250,000 per beneficiary, up to five beneficiaries, or $1,250,000 per grantor at each credit union. This ends the separate formulas for larger trusts.
Who it affects
Credit union members with trust accounts, and federally insured credit unions
When
This rule takes effect on December 1, 2026.
- : Published in the Federal Register
- : This rule takes effect
Official text
FR Doc. 2024-21888: Simplification of Share Insurance Rules
On Federal Register. The official text is what counts; read it before you act.
Not legal advice. Plain-English summaries to help you find what changes and when. Not legal advice: read the official text, and ask a lawyer about your situation.